Washington, June 13: Elon Musk has become the world’s first trillionaire after SpaceX raised a record $75 billion through its initial public offering (IPO).
According to reports, Musk’s net worth surged past $1.1 trillion when SpaceX shares began trading, making him the first person in history to cross the trillion-dollar wealth mark.
ALSO READ: Iran Warns US of ‘Harsher Response’, Says War Could Spread Beyond Region
Musk’s stake in SpaceX is estimated at around $690 billion, while his holdings in electric vehicle giant Tesla and other ventures account for the rest of his fortune.
The SpaceX listing is being described as the largest IPO in history, with investors betting on the company’s future in space exploration, satellite communications and artificial intelligence.
The milestone is also expected to generate significant wealth for thousands of SpaceX employees holding company equity.
