Elon Musk Becomes World's First Trillionaire After Historic SpaceX IPO

NEW YORK (AP) — Elon Musk has become the first person ever to surpass a net worth of $1 trillion following SpaceX's record-setting initial public offering, according to estimates published after the company's market debut. The historic milestone came after SpaceX priced its shares at $135 each, raising $75 billion and valuing the company at approximately $1.77 trillion, the largest IPO ever completed in the United States. Shares are scheduled to begin trading on the Nasdaq under the ticker SPCX.

Much of Musk's wealth is tied to his ownership stake in SpaceX, which has grown from a private rocket company founded in 2002 into a global aerospace and communications giant. The company operates the Starlink satellite internet network, conducts commercial and government space launches, and has expanded into artificial intelligence ventures. Investors have continued to place a premium on Musk's companies despite concerns about profitability, governance and the ambitious nature of many of his long-term projects.