Elon Musk becomes world’s first trillionaire as SpaceX stock soars
Elon Musk, an American tech entrepreneur, made history by becoming the world’s first trillionaire after the stock of one of his companies, SpaceX, soared following its debut on the global market on Friday.
Mr Musk’s SpaceX, a rocket and satellite company, raised a record $75 billion, valuing the company at about $1.8 trillion.
On its debut, SpaceX began trading at $150 per share on Friday, higher than its listing price of $135 per share.
SpaceX shares soared, hitting $158.51 and pushing Mr Musk’s fortune above $1 trillion, making the tech entrepreneur the richest man on Earth.
Mr Musk is the majority shareholder of SpaceX, owning more than 41 per cent of the company’s shares.
Before SpaceX’s listing on the American stock market, Forbes had estimated Mr Musk’s net worth at about $981.2 billion.
The American tech entrepreneur owns Tesla, X, among other globally renowned businesses.
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