SpaceX founder and Chief Executive Officer Elon Musk on Friday became the first individual in history to surpass a net worth of $1 trillion, according to CNN.
The milestone follows the blockbuster stock market debut of his aerospace company, SpaceX.
The company priced its initial public offering at $135 per share, pushing Musk’s estimated fortune to just over $1 trillion. Shares, trading under the ticker symbol “SPCX” on the Nasdaq, surged to $165 shortly after markets opened—about 22 per cent above the IPO price—lifting SpaceX’s valuation beyond $2 trillion.
Prior to the listing, Musk’s net worth was already estimated at $813 billion, more than double that of the world’s second-richest individual, Google co-founder Larry Page, who is valued at approximately $288 billion, according to Forbes.
Musk’s wealth now exceeds the combined fortunes of the next three individuals 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 Nvidia, Alphabet, Apple, Microsoft, and Amazon.
