Elon Musk became the world’s first trillionaire on Friday after SpaceX completed its long-awaited debut on the Nasdaq, with shares of the rocket and satellite company surging on their first day of trading.
SpaceX shares opened at $150, climbed as high as $176.52 during the session, and closed at $161.11 , a gain of roughly 19.3% from the IPO price of $135 . The offering raised more than $75 billion, making it the largest IPO in history, and valued the company at more than $2 trillion.
The listing pushed Musk’s fortune to unprecedented territory. His stake in SpaceX alone is now worth more than $766 billion, and combined with his Tesla holdings, his overall net worth stands at roughly $1.05 trillion.
The IPO added more than $180 billion to his fortune in a single day, leaving him worth more than the next five richest people in the world combined. Trading under the ticker SPCX , the stock attracted enormous demand ahead of its debut, with retail investors alone submitting more than $70 billion in share requests.
The milestone is likely to reignite debates over the concentration of wealth among tech founders. Musk’s status as the first person in history worth $1 trillion is expected to fuel further discussion of wealth inequality and the growing power of America’s wealthiest entrepreneurs.
Beyond Musk himself, the IPO created thousands of new millionaires and several new billionaires among SpaceX employees and executives holding stock , and analysts say the blockbuster debut could pave the way for a wave of major IPOs from AI companies in the coming months.
