Elon Musk Becomes World's First Trillionaire as SpaceX Shares Surge on Debut
Summary
Elon Musk became the world’s first trillionaire after SpaceX, his rocket and satellite company, began trading on the stock market at $150 per share. The company’s market value reached about $1.77 trillion, boosting Musk’s net worth past $1 trillion.Key Facts
- SpaceX’s initial public offering (IPO) price was $135 per share.
- The company’s value at IPO was about $1.77 trillion.
- Musk owns about 40% of SpaceX, with 4.8 billion shares.
- Before the IPO, Musk’s net worth was just under $1 trillion.
- With shares trading around $150, Musk’s fortune exceeded $1 trillion.
- SpaceX became the eighth most valuable company globally at the IPO price.
- The IPO raised about $75 billion from selling 555.6 million shares.
- Musk also leads Tesla, which contributes to his overall wealth.
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