Elon Musk has become the world's first trillionaire after his rocket and AI company, SpaceX, completed a record-breaking initial public offering (IPO) in New York.
Key points
- SpaceX shares opened at $150, valuing the company at approximately $2 trillion.
- Musk's total net worth reached an estimated $1.05 trillion, significantly outpacing other global billionaires.
- The IPO offered a substantial portion of shares to retail investors, estimated between 20% and 25%.
- Musk retains significant control over SpaceX through a dual-class share structure that grants him majority voting power.
Why it matters
This milestone marks the first time an individual has reached a trillion-dollar net worth, highlighting the massive market valuation of Musk's private ventures and his influence on the global economy.
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