Elon Musk just achieved the milestone. SpaceX opened trading Friday at $150 per share, an 11% increase above its $135 IPO price.
The numbers are significant. According to reports, Musk is now the world's first trillionaire. Around 4,400 current and former SpaceX employees became millionaires overnight, while approximately 400 are now centimillionaires.
SpaceX's IPO was oversubscribed by 4x, meaning institutional investors competed for allocations. Many didn't receive shares, so they bought on the open market instead.
Only about 4% of SpaceX shares are available for public trading. Early investors and employees hold the rest, which constrains supply and amplifies demand.
Venture capital firms are seeing enormous returns. Founders Fund's $600 million bet is now worth more than $50 billion at the IPO price. Andreessen Horowitz's stake is worth over $10 billion, while Sequoia's is valued at more than $20 billion.
SpaceX also secured fast-track inclusion in major indexes like the Nasdaq 100. Most companies wait months; SpaceX joins in days. That means automatic buying from massive funds kicks in almost immediately.
Musk is now a trillionaire. His wealth spans electric cars, space travel, and now this valuation.
