SpaceX goes public: How Elon Musk became a trillionaire on paper

SpaceX officially went public in the largest initial public offering ever recorded, with shares opening at $150 and closing at $161. The historic trading debut also pushed Elon Musk’s estimated net worth above $1 trillion, making him the world’s first trillionaire on paper. But Musk’s wealth is tied to the value of his SpaceX and Tesla shares — and he cannot immediately sell his SpaceX stake. Scripps News breaks down why the IPO price matters, what happened during the first day of trading and why Musk’s trillion-dollar net worth could change quickly. ------------------------------------- Follow Scripps News on other platforms— Join our newsletter at https://bit.ly/2q1tepr Follow us on Facebook:   / scrippsnews   Follow us on X: https://x.com/scrippsnews Follow us on Instagram:   / scrippsnews   Follow us on TikTok:   / scrippsnews