THE TELEGRAPH: Tech boss’s net worth rises above $1tn mark as shares in SpaceX surge 20pc in initial trading
Elon Musk has become the first trillionaire in history after his SpaceX business floated on the stock market in New York.
The world’s richest man’s net worth soared above the $1tn mark (£860bn) as shares in his rocket business surged by 20pc in initial trading after the company went public on the Nasdaq stock exchange.
Mr Musk has a stake of around 43pc in the rocket venture, which was valued at $2.1tn (£1.8tn) as markets opened, on top of his shares in Tesla and his other start-ups.
SpaceX’s shares jumped to $162 in early trading, flying past its initial listing price of $135.
It means Mr Musk’s stakes in SpaceX and Tesla have crystallised into a $1tn paper fortune, although he is prevented from selling shares in SpaceX for at least one year under the terms of the float. » | Matthew Field | Senior Technology Reporter | Friday, June 12, 2026