NEW YORK (AP) — The world's richest man just became its first trillionaire.
Shares in Elon Musk's rocket company SpaceX soared 25% after opening for trading at noon Friday, an auspicious start for history's biggest initial public offering and enough to push the net worth of its founder and CEO over the trillion dollar mark.
The shares opened at $150, then shot to $168.90 around 12:.50 p.m. ET. That price gave the company a market value of $2.21 trillion. Musk, who also is a major shareholder and CEO of Tesla, is now worth an estimated $1.1 trillion, according to Forbes.
