NEW YORK, NY — Elon Musk became the world’s first trillionaire Friday after shares of his SpaceX rocket company began trading on the Nasdaq stock exchange.
SpaceX’s initial public offering Thursday valued the company at nearly $1.8 trillion, up from its most recent private valuation of about $1.25 trillion. Shares opened at $150 Friday morning in New York and kept rising, pushing SpaceX’s market capitalization to about $2.2 trillion.
Musk’s fortune is now more than three times larger than that of his closest competitors, the founders of Google, according to estimates.
Musk’s net worth had already surpassed $400 billion in 2024 and nearly tripled in less than two years, Bloomberg and Forbes reported. Most of his wealth remains tied up in shares, some of which are restricted from immediate sale. He has pledged to donate half his wealth eventually.
An activist group protested the IPO by inflating a giant effigy of Musk in New York’s Times Square this week.
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