Elon Musk has officially crossed an unprecedented financial milestone, becoming the world’s first trillionaire. The historic surge in his wealth comes as Space Exploration Technologies Corp., known as SpaceX, officially began trading on the Nasdaq stock exchange on Friday.
SpaceX shares opened at $150 apiece in their market debut, quickly rising by about 20 percent to trade around $164 shortly after the opening bell. This initial surge pushes the total market valuation of the aerospace company to approximately $2 trillion.
Musk holds a massive equity stake in SpaceX, which is now valued at more than $766 billion following the public listing. When combined with his holdings in Tesla, which sits at $280 billion despite a minor one percent dip in midday trading to $395 per share, Musk’s total net worth from both entities is estimated at $1.05 trillion.
The public offering added more than $180 billion to his personal fortune in a single day, positioning his net worth ahead of the combined wealth of the next five richest billionaires globally. His personal fortune now also exceeds the individual gross domestic products of nations such as Taiwan, Ireland, and Sweden.
Beyond boosting Musk’s personal capital, the public debut has generated thousands of new millionaires and several billionaires among SpaceX executives and employees who held equity in the company.
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