Elon Musk made history, surpassing the trillion dollar mark

SpaceX, the rocket company founded by Elon Musk has crossed the $1 trillion mark, making it the first person in history to cross the milestone.

SpaceX priced its initial public offering at $135 per share, bringing Musk’s estimated fortune to more than $1 trillion.

Shares of the company, which trades under the ticker symbol “SPCX” on Nasdaq, rose to $165 shortly after markets opened on Friday – about 22 percent above its IPO price – lifting SpaceX’s valuation above $2 trillion.

Before the listing, Musk was already worth about $813 billion, twice the wealth of the world’s second-richest person, Google co-founder Larry Page, who was worth about $288 billion, according to Forbes.

Musk’s net worth now exceeds the combined wealth of the next three names on the Bloomberg Billionaires Index: Google founders Larry Page and Sergey Brin, and Oracle founder Larry Ellison.

At its current valuation, SpaceX ranks as the sixth largest public company in the United States, behind only Nvidia, Alphabet, Apple, Microsoft, and Amazon.

SpaceX is the parent company of Starlink, the profitable and growing satellite internet service, and xAI, Musk’s artificial intelligence company that operates the Grok chatbot.