SpaceX founder Elon Musk becomes world's first trillionaire

Tech billionaire Elon Musk has achieved a historic milestone, becoming the world's first trillionaire. This unprecedented wealth accumulation follows the highly successful public debut of his aerospace company, SpaceX, which reached a staggering market valuation of $2 trillion.

SpaceX's initial public offering on the Nasdaq was the largest in history, pricing 556 million shares at $135 each and raising approximately $75 billion. The company's stock surged on its opening day, climbing about 22% above the IPO price to reach $165 per share. This significant jump propelled SpaceX's valuation past the $2 trillion mark, positioning it as the sixth-largest publicly traded company in the United States.

The market debut dramatically boosted Musk's net worth, making him the first person to cross the $1 trillion wealth threshold. The majority of his fortune remains tied to his stakes in SpaceX and Tesla. His personal wealth now exceeds the combined fortunes of several other prominent billionaires, including Google co-founders Larry Page and Sergey Brin, Oracle founder Larry Ellison, and Amazon founder Jeff Bezos. Furthermore, Musk's fortune surpasses the gross domestic product of countries like Taiwan, Ireland, Sweden, Singapore, and his native South Africa.

Musk marked the occasion by jointly ringing the Nasdaq opening bell from SpaceX headquarters in Texas. The successful IPO is also being viewed as a harbinger of a new wave of major technology listings. The sheer scale of the SpaceX offering dwarfs previous records, raising nearly three times the amount of Saudi Aramco's 2019 listing.