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SpaceX Soars on Nasdaq Debut, Making Musk World's First Trillionaire

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • SpaceX's successful Nasdaq debut saw its stock surge 19.3% above its initial offering price.
  • The company's strong performance made Elon Musk the world's first trillionaire, with his net worth exceeding $1 trillion.
  • SpaceX's market capitalization surpassed $2 trillion, positioning it as the sixth most valuable company on the stock market.

Elon Musk's aerospace company, SpaceX, made a significant entry into the U.S. stock market, listing on Nasdaq and experiencing an immediate surge in its stock price. On its first day of trading, SpaceX's shares closed at $161.11, a notable 19.3% increase from its initial offering price of $135.

This impressive market debut has propelled Elon Musk into the history books as the world's first trillionaire. According to Bloomberg, Musk's total assets reached $1.05 trillion when SpaceX stock traded at $150 per share on Nasdaq. This personal fortune is comparable to the entire GDP of Switzerland and surpasses that of several other nations.

With its stock closing above the $161 mark, SpaceX's market capitalization exceeded $2 trillion. This valuation places the company as the sixth most valuable entity in the global market, trailing behind tech giants like Nvidia, Alphabet, Apple, Microsoft, and Amazon. The strong performance underscores the significant investor confidence in SpaceX's future prospects and its innovative contributions to the aerospace industry.

DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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