Musk became the first dollar trillionaire in history after the start of trading in SpaceX shares

SpaceX founder and CEO Elon Musk has officially reached the status of the first-ever owner of a fortune of over one trillion dollars, Bloomberg reported on June 12.

This happened immediately after the official start of trading in shares of the aerospace company on the Nasdaq exchange. Trading began at 11:46 am local time (18:46 Moscow time). The price of shares at the start was $150 per share - 11% more than the price of securities in the IPO ($135).

Musk's fortune, with a stock price of $150, broke the trillion mark and, according to Bloomberg estimates, reached $1.05 trillion. More than half of this amount comes from the businessman’s stake in SpaceX, the rest consists of his shares in Tesla, Neuralink, Boring Company and other assets.

The capitalization of the entire company at a share price of $150 exceeded two trillion (the valuation obtained as part of the IPO was 1.77 trillion).

The stock price at the opening of trading was determined by the so-called stabilizing agent - in the case of SpaceX, this role was performed by Morgan Stanley. His task was to balance supply and demand for securities before the start of transactions.

Immediately after the opening of trading, the shares began to rise in value. As of 19:20 Moscow time, the securities added more than 20% and reached over $166. You can monitor the current price of the asset here .

• As part of the IPO, SpaceX raised $75 billion, breaking the record of the Saudi concern Saudi Aramco from 2019 (more than 29 billion).
• The book of applications from private investors for the company's shares was oversubscribed more than four times: demand amounted to about $100 billion against the supply of this category of $22.5 billion.
• About a thousand institutional investors showed interest in the securities. Among the biggest bids are the world's largest asset management firm Blackrock, bidding for a package worth five billion dollars, Japanese funds (2.5 billion) and sovereign wealth funds of Saudi Arabia, Kuwait and Qatar (each several billion).
• In addition to Musk, thousands of former and current SpaceX employees will get rich from the SpaceX IPO: according to calculations by The New York Times, about 4.4 thousand of these people have become dollar millionaires. Of these, 400 are owners of fortunes over $100 million.