SpaceX IPO makes Elon Musk the world’s first trillionaire
Key takeaways
- The company began trading on the Nasdaq, and Space X shares (officially abbreviated as SPCX) quickly soared from an initial price of $135 per share.
- This valuation places SpaceX, which recently merged with Musk’s xAI, at over $2 trillion.
- As long as SpaceX shares remain above $138, Musk holds the title of the world’s first trillionaire, with no other billionaire peers coming close.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Space X has experienced both successes and failures in its launches, but its recent IPO on Friday certainly falls into the success category, making CEO Elon Musk the world’s first trillionaire.
The company began trading on the Nasdaq, and Space X shares (officially abbreviated as SPCX) quickly soared from an initial price of $135 per share. At the time of writing, shares had reached an astonishing $170, marking the largest IPO in history.
This valuation places SpaceX, which recently merged with Musk’s xAI, at over $2 trillion. For perspective, this amount exceeds the combined valuations of Walmart and General Motors, although both Google and Nvidia have surpassed the $4 trillion threshold.