As SpaceX IPO blasts off, Elon Musk becomes a trillionaire

Credit: Adam Gray/Bloomberg via Getty Images

But for how long?

Some SpaceX launches have failed, some have succeeded — and the company's IPO certainly fell into the latter category Friday, turning CEO Elon Musk into the world's first trillionaire.

The company began trading on the New York Stock Exchange on Friday, and SpaceX shares (the official shortened form, in case you were wondering, is SPCX) quickly rocketed upwards from the initial price of $135 a share. At time of writing, shares had reached the stratospheric heights of $170 — making it the biggest IPO in history.

That values SpaceX, which recently merged with Musk's xAI, at above $2 trillion. To put that in perspective, the New York Times reports that's more than Walmart and General Motors combined, though both Google and Nvidia have surpassed the $4 trillion threshhold. And so long as SpaceX trades above $138 per share, Musk is officially the world's first trillionaire — with none of his former peers in the billionaire category coming anywhere close.

By Chris Taylor.

Full story at Mashable