SpaceX founder and Chief Executive Officer Elon Musk on Friday became the first person in history to cross the $1 trillion net worth threshold.
The milestone was fueled by his rocket company’s successful stock market debut.
SpaceX priced its first public offering at $135 per share, bringing Musk’s projected value to a little over $1 trillion.
SpaceX’s shares, which trade on the Nasdaq under the ticker symbol “SPCX,” rose to $165 immediately after markets started Friday, almost 22% more than the IPO price, bringing the company’s valuation past $2 trillion.
Prior to the IPO, Musk was believed to be worth $813 billion, more than twice the fortune of the world’s second-richest person, Google co-founder Larry Page, who is worth around $288 billion, according to Forbes.
Musk’s net worth now exceeds that of the next three names on the Bloomberg Billionaires Index: Google co-founders Larry Page and Sergey Brin, as well as Oracle founder Larry Ellison.
SpaceX is currently valued as the sixth-largest publicly traded corporation in the United States, trailing only Nvidia, Alphabet, Apple, Microsoft, and Amazon.
SpaceX owns Starlink, a lucrative satellite internet provider, and xAI, Musk’s artificial intelligence business that maintains the Grok chatbot.
