Elon Musk Becomes World’s First Trillionaire After the SpaceX IPO Surge

The long debate about Elon Musk being set to become the world’s first trillionaire has now come to reality as the most-talked about IPO of SpaceX has seen a significant rise.

Elon Musk, the wealthiest person on Earth, achieved the status of the first trillionaire in history on Friday when his rocket company SpaceX’s shares soared 11% to 150 USD on their initial day of trading on the stock market, eventually reaching approximately 172 USD, resulting in a market value of 2.18 trillion USD for the company.

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After Tesla shares skyrocketed in January 2021, when his net worth soared beyond 185 billion USD, he dethroned Amazon founder Jeff Bezos to become the wealthiest person in the world. Following a rise in SpaceX’s share price from 135 USD to 150 USD in the initial public offering, he became a trillionaire.

His current net worth is made up of his holdings in clean energy firm Tesla and SpaceX. He also owns shares in other businesses, such as The Boring Company, a tunneling business he founded and Neuralink, a neurotechnology firm that Musk helped create, according to the reports. The aerospace company founded by Musk in 2002, SpaceX, debuted on the Nasdaq after pricing 556 million shares at USD 135 each, raising roughly USD 75 billion, reports ANI.