SpaceX IPO makes Musk a paper trillionaire
Key takeaways
- Elon Musk's Space X company has floated on the Nasdaq stock exchange, with shares climbing more than 25% above the opening price.
- The shares were hovering around the $173 mark shortly after 1 p.m.
- That valuation makes Musk the first person in history to hold a trillion-dollar fortune, at least in paper form — mainly through his stakes in SpaceX and electric carmaker Tesla.
Why this matters: an international story with cross-border implications worth tracking.
Elon Musk's Space X company has floated on the Nasdaq stock exchange, with shares climbing more than 25% above the opening price. This makes Musk the world's first paper trillionaire, at least by market capitalization.
https://p.dw.com/p/5FIz5Musk 'virtually attended' the IPO and was seen in New York via the Times Square big screen Image: STAR MAX/IPx/picture alliance Advertisement Elon Musk's Space X has made its stock market debut, with shares pushing well past their opening price of $135 (roughly €117) in the hours after the initial public offering (IPO) on the Nasdaq on Friday.
The shares were hovering around the $173 mark shortly after 1 p.m. in New York (1700 GMT/UTC), a rise of almost 28%, equating to a market capitalization of around $2.26 trillion for the Texas-based space and satellite and broadband internet company.