Elon Musk's net worth hits $1.11 trillion after SpaceX IPO
Business
Elon Musk just hit a wild new milestone: his net worth has reached $1.11 trillion, thanks to SpaceX going public.
The company's stock opened at $150, 11% above the IPO price of $135, and closed at $161 per share, pushing SpaceX's value over $2 trillion on its first day on the market.
Musk richer than 4 founders combined
Musk is now not just the richest person alive. He's worth more than Larry Page, Sergey Brin, Jeff Bezos, and Larry Ellison combined. That's a leap from his net worth.
Even with SpaceX posting a loss last year, investors are all in on its future, and Musk still holds tight control with over 80% voting power.