Elon Musk's net worth reaches $1.3 trillion after SpaceX IPO
Business
Elon Musk just saw his net worth soar to $1.3 trillion, thanks to a more than 19.5% jump in SpaceX shares during their first full day on the stock market.
That single day added an incredible $164.8 billion to his wealth, most of which comes from his huge roughly 38% stake in SpaceX.
SpaceX IPO raises $85.7B
SpaceX's IPO pulled in $85.7 billion as investors rushed to buy shares, pushing total interest past $350 billion.
The success highlights how much faith people have in SpaceX's future and keeps Musk firmly at the top of the world's richest list, well ahead of Google co-founder Larry Page at $301.4 billion (Forbes).