Elon Musk's net worth reached approximately $1.05 trillion after SpaceX began trading on the Nasdaq at $150 per share, valuing the company at around $2 trillion. His stake in SpaceX is worth over $766 billion, while his Tesla shares contribute an additional $280 billion.
This milestone not only positions Musk as the wealthiest individual in history but also highlights the growing wealth disparity in the tech sector. The IPO has created thousands of new millionaires and several billionaires among SpaceX employees and executives.
Following the IPO, SpaceX shares surged about 20% to around $164, while Tesla shares experienced a slight decline of about 2%, trading at approximately $390. This event underscores the significant financial impact of tech IPOs and the concentration of wealth among a small group of individuals