Elon Musk became the world’s first trillionaire after SpaceX’s IPO on Nasdaq. The company priced 556 million shares at $135, raising $75B, with shares rising to $165, pushing valuation past $2T and making it the sixth-largest US firm. The surge boosted Musk’s net worth, largely tied to SpaceX and Tesla holdings.
Washington DC: Tech billionaire Elon Musk became the world's first trillionaire on Friday following the blockbuster public debut of his aerospace manufacturer and space transportation company, SpaceX, which achieved a market valuation of USD 2 trillion in the largest initial public offering (IPO) in history, according to CNN.
SpaceX, the aerospace company founded by Musk in 2002, made its debut on the Nasdaq after pricing 556 million shares at USD 135 each, raising approximately USD 75 billion.
According to CNN, the company's shares opened at around USD 150 and climbed further during trading, reaching USD 165 - about 22 per cent above the IPO price.
The surge in the stock price pushed SpaceX's valuation above USD 2 trillion, making it the sixth-largest publicly traded company in the United States by market capitalisation, behind Nvidia, Alphabet, Apple, Microsoft and Amazon.
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SpaceX IPO soars 19 per cent on debut, pushing Elon Musk to world’s first trillionaire status
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