SpaceX on Friday made its public stock market debut on Wall Street, making CEO Elon Musk the world’s first trillionaire. Musk is already the world’s richest person. But after his company priced its blockbuster initial public offering at $135 a share and started trading publicly, the move boosted the technology mogul’s fortunes from an estimated $813 billion and sent SpaceX into the ranks of the world’s most valuable companies.Trading on the shares under the ticker symbol “SPCX” began Friday just before noon higher than expected, at $151.53 per share. Within minutes shares rose to $168.33, and are now hovering around $164.
SpaceX executives rang in the opening bell at the Nasdaq MarketSite in New York City as Musk embraced trillionaire status.
“This is the best entrepreneur of our generation in Elon, and he’s going after two of the biggest markets of all time, and two of the most important markets in technology for our society — space and AI,” Andressen Horowitz’s David George told CNBC. “They can send a Starship, which is the size of a football field, effectively up to space, land it back on Earth with the chopsticks — no one else is close to being able to do that.”
Around 4,400 SpaceX workers were set to become millionaires when the stock began trading on Friday, according to the New York Times, after the company made the biggest initial public offering in history on Thursday.
