Elon Musk reportedly becomes world’s first trillionaire after SpaceX IPO

SpaceX completed its public debut on June 12 with an initial public offering. The IPO priced shares at $135 each. Valuation of the company reached approximately $1.77 trillion. Analysts noted the size of the offering as unprecedented for a space firm. Media reports claim the valuation makes Elon Musk the world’s first trillionaire. The market reaction will be monitored by investors worldwide. SpaceX plans to use the proceeds for further launch and satellite projects. The development could reshape financing for the commercial space industry.