Elon Musk, the CEO and founder of SpaceX, became the first person in history to surpass $1 trillion in net worth on Friday.
His rocket company’s spectacular stock market debut served as the catalyst for the milestone.
Musk’s estimated net worth increased to slightly over $1 trillion after SpaceX priced its IPO at $135 per share.
Shortly after Friday’s market opened, the company’s shares, which are listed on the Nasdaq under the ticker symbol “SPCX,” rose to $165, about 22% higher than the IPO price, increasing SpaceX’s valuation above $2 trillion.
According to Forbes, Musk was already estimated to be worth $813 billion prior to the listing, which is more than twice as much as the second-richest person on the planet, Google co-founder Larry Page, who is estimated to be worth $288 billion.
The next three names on the Bloomberg Billionaires Index, Google co-founders Larry Page and Sergey Brin, and Oracle founder Larry Ellison, are all less wealthy than Musk.
After Nvidia, Alphabet, Apple, Microsoft, and Amazon, SpaceX is currently the sixth-largest publicly traded company in the US.
The profitable and expanding satellite internet service Starlink and Musk’s artificial intelligence startup xAI, which runs the Grok chatbot, are both owned by SpaceX.
Congratulations to Elon Musk on this extraordinary achievement. Reaching the status of the world’s first trillionaire is a testament to his visionary leadership, relentless innovation, and unwavering dedication.
This historic milestone not only reflects his remarkable success but also inspires countless others around the world to dream big and push boundaries. Wishing him continued success and groundbreaking accomplishments in the future
