SpaceX founder and Chief Executive Officer Elon Musk on Friday became the first person in history to cross the $1 trillion net worth threshold, CNN has reported.
The milestone was driven by the blockbuster stock market debut of his rocket company.
SpaceX priced its initial public offering at $135 per share, pushing Musk’s estimated fortune to just over $1 trillion.
The company’s shares, trading under the ticker symbol “SPCX” on the Nasdaq, climbed to $165 shortly after markets opened Friday — roughly 22 per cent above the IPO price — lifting SpaceX’s valuation above $2 trillion.
Before the listing, Musk was already worth an estimated $813 billion, a fortune more than twice the size of the planet’s second-richest person, Google co-founder Larry Page, valued at approximately $288 billion, according to Forbes.
Musk’s net worth now exceeds the combined wealth of the next three names on the Bloomberg Billionaires Index: Google co-founders Larry Page and Sergey Brin, and Oracle founder Larry Ellison.
At its current valuation, SpaceX ranks as the sixth-largest publicly traded company in the United States, behind only Nvidia, Alphabet, Apple, Microsoft and Amazon.
