Elon Musk Becomes First Trillionaire After SpaceX's Record-Breaking IPO
By
Jill Goldsmith
Lightly toasted, lightly seasoned, mostly correct.
Summary
Elon Musk became the world's first trillionaire after SpaceX went public in the largest IPO ever, priced at $135 per share. The stock opened at $150, rose to a high of $176, and closed near $159, giving the company a market cap of over $2 trillion. Musk's trillionaire status comes from his combined stakes in SpaceX and Tesla.
Key quotes
· 4 pulledThe biggest public offering ever was priced at $135 a share.
The shares opened at $150 and jumped some more when they started trading on the Nasdaq under the symbol SPCX.
The stock is up 18% nearing the close at about $159, off its high for the day of $176, for a market cap of over $2 trillion.
Musk became the world's first trillionaire through his combined stakes in the rocket and satellite company and automaker Tesla, which is also publicly traded.
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