Elon Musk’s net worth exceeded $1 trillion after SpaceX shares jumped 25% in their trading debut on NASDAQ.
Elon Musk became the world’s first individual to surpass a $1 trillion net worth after SpaceX’s NASDAQ debut. The company’s shares priced at $135, opened at $150, and climbed to $168.75, a 25% gain from the IPO price.
Musk’s fortune, driven by his 42% stake in SpaceX, includes 4.8 billion shares and 350 million options. At the IPO price, his holdings were valued at $648 billion in shares and $44.3 billion in options, adding $192.3 billion to his pre-IPO net worth of $813 billion.
SpaceX’s dual-class share structure ensures Musk retains control, with 10 votes per share. The surge eclipses the net worth of the second-richest individual, Larry Page, at $288 billion.