SpaceX IPO Makes Elon Musk First Trillionaire

Elon Musk made history today after SpaceX went public with a $150 per share initial public offering, above the $135 a share asking price.

With it, Musk became the world’s first private trillionaire, and made millionaires out of many ordinary people.

SpaceX is a private space exploration company that builds the Dragon space capsule and Starship, along with the Falcon 9 and Falcon Heavy rockets that send them into orbit.

Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk's net worth is now estimated at about $1.1 trillion.

SpaceX stock jumped after it began trading, rising to $168.75 a share before paring some of those gains to trade around $158 a share. It then rebounded and reached a new high of $176.52, and closed at $160.95 per share.