Elon Musk becomes world’s first trillionaire as SpaceX trades publicly

Elon Musk has become the world’s first trillionaire after shares of SpaceX began trading publicly.

SpaceX stock opened at $150 (£112) shortly before noon Eastern Time and quickly climbed to $160, Caliber.Az reports, citing the BBC.

The company raised $75 billion through its public offering, setting a new IPO record and surpassing the previous benchmark established by Saudi Aramco, which raised $25.6 billion in 2019.

Musk owns more than 80% of SpaceX, the aerospace company responsible for developing rockets and infrastructure used by NASA.

SpaceX also holds stakes in several of Musk’s other ventures, including artificial intelligence company xAI and satellite internet provider Starlink.

By Bakhtiyar Abbasov