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International Business Times
International Business Times
Business
Merin Rebecca Thomas

SpaceX IPO Creates New Billionaires As Elon Musk's Stake Tops $1 Trillion

Shares of SpaceX remain up about 37% since the company's June 12 initial public offering, despite recent losses that pulled its market capitalization to about $2.43 trillion. (Credit: Unsplash)

SpaceX's historic stock market debut has transformed a number of its investors and executives into billionaires, with founder and CEO Elon Musk's stake now valued at more than $1 trillion. The company's blockbuster listing also created thousands of new millionaires and pushed several longtime shareholders above the billion-dollar mark.

Shares of SpaceX remain up about 37% since the company's June 12 initial public offering, despite recent losses that pulled its market capitalization to about $2.43 trillion. Earlier this week, the company briefly surpassed Amazon and Microsoft in market value before slipping back below Amazon, according to CNBC.

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