Elon Musk became the world's first trillionaire after shares of his rocket company SpaceX soared in Wall Street's biggest initial public offering of stock.Shares in SpaceX jumped more than 19 per cent after opening for trading at noon Friday, a sign that investors are looking past the billions the company is losing and instead betting that its massive investments in satellites, orbital data centres and artificial intelligence will pay off in the future.

Mr. Musk’s rocket and satellite maker opened at $150 per share, up 11 percent from its I.P.O. price, and then shot to well over 20 percent.

Elon Musk has become the first person to cross the trillionaire threshold, at least on paper, after SpaceX priced its blockbuster initial public offering at $135 a share. Before…

Musk's fortunes were boosted from $813 billion to over $1 trillion, sending SpaceX into the ranks of the world's most valuable companies.