NEW YORK: Elon Musk has made history as the world’s first trillionaire, with his net worth surpassing $1.1 trillion following a record-breaking initial public offering by SpaceX.
The rocket and satellite company raised $75 billion in its IPO, and when trading began Friday, Musk’s personal fortune shot up to over $1.1 trillion, placing him in an economic class of his own, according to estimates.
Combined with his holdings in electric vehicle maker Tesla, along with other investments and assets, Musk’s net worth is now estimated at approximately $1.1 trillion. His stake in SpaceX alone is valued at a staggering $690 billion.
The IPO, the largest in history, has also proven life-changing for thousands of SpaceX employees who hold equity in the company.
Investors who watched Musk help transform Tesla into an automotive giant are now betting that he can achieve the same dominance in space and artificial intelligence.
