Elon Musk becomes world's first trillionaire after SpaceX IPO

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Elon Musk has become the first person in history to surpass a $1 trillion net worth. This follows the initial public offering of SpaceX.

SpaceX priced its shares at $135 each ahead of its market debut. That valuation pushed Musk's fortune above the trillion-dollar mark.

Before the IPO, Forbes estimated Musk's wealth at about $813 billion. He was already the richest person in the world by a wide margin.

The new milestone puts Musk far ahead of other global billionaires. Google co-founder Larry Page is now the second-richest person with an estimated fortune of about $288 billion.

SpaceX shares are expected to begin trading on the Nasdaq under the ticker symbol SPCX on Friday. The company's strong investor demand highlights growing confidence in its rocket technology, satellite internet business and artificial intelligence ambitions.

Musk's 42% stake in SpaceX is valued at about $648 billion. The IPO is expected to create thousands of new millionaires among SpaceX employees and investors.

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