Elon Musk, the CEO of Tesla and SpaceX, has become the first person in history to have a net worth of more than $1 trillion, according to a CNN report.
The milestone came after SpaceX was listed on the stock market. The company’s shares were offered at $135 each during its Initial Public Offering (IPO).
After trading began on the Nasdaq stock exchange under the symbol SPCX, SpaceX shares rose to $165, an increase of about 22 percent. This pushed the company’s market value above $2 trillion.
Before the IPO, Musk’s wealth was estimated at $813 billion. Forbes reported that he was already worth more than twice as much as the world’s second-richest person, Larry Page, co-founder of Google, whose net worth is about $288 billion.
With his fortune now above $1 trillion, Musk is wealthier than the combined fortunes of Larry Page, Sergey Brin, and Larry Ellison, founder of Oracle.
SpaceX is now one of the largest publicly traded companies in the United States, ranking behind only Nvidia, Alphabet, Apple, Microsoft, and Amazon in market value.
The company operates several major businesses, including Starlink, its satellite internet service, and xAI, Musk’s artificial intelligence company, which created the Grok chatbot.
