SpaceX Wall Street Debut Pushes Elon Musk Past US$1 Trillion

Elon Musk has blasted into uncharted territory, becoming the world's first trillionaire after SpaceX made a blockbuster debut on Wall Street on Friday.

Shares of the rocket company surged 23 per cent after trading opened, pushing SpaceX's value to a staggering US$2.18 trillion and sending Musk's estimated net worth soaring to US$1.1 trillion, according to Forbes.

The stock opened at US$150 per share and climbed to US$166.90 by midday as investors scrambled to get a piece of the company behind some of the world's most ambitious space projects.

SpaceX sold more than 555 million shares at US$135 each, raising a massive US$75 billion and smashing the previous IPO record set by Saudi Aramco in 2019.

The billionaire entrepreneur said the company is seeking funding to fuel plans that sound straight out of science fiction, including putting satellites and data centres in space and eventually building a human colony on Mars.

Musk marked the historic occasion by taking part in a ceremonial bell-ringing from Starbase, SpaceX's launch facility in South Texas.

Reaffirming his vision of making humanity a multi-planet species, Musk said SpaceX ultimately wants ordinary people, not just astronauts, to travel beyond Earth.

"Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond," he said.

The historic stock market debut has cemented Musk's place at the top of the global rich list and added another chapter to his growing business empire.

We want to hear from you! Email us at [email protected] and follow @thejamaicastar on Instagram and on X @JamaicaStar and on Facebook: @TheJamaicaStar, or on Whatsapp @ 876-550-2506.