Article updated 18:21 - Elon Musk, the boss of SpaceX, has become the world's first trillionaire.
Shares of the space technology company went public on Friday. The value of the shares immediately rose. They are being sold at a price of about $160 per share, or 18 percent more than the company had expected.
The company is now worth nearly $2 trillion. His 38 percent stake is now worth about $800 billion. Musk also owns about 10 percent of Tesla, or $165 billion, plus an option to buy another 8 percent, or $114 billion.
Before SpaceX's value increased, he had a net worth of around $980 billion, and a modest increase in stock value was enough to make him a trillionaire.
Musk also has other companies.
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Elon Musk loses trillionaire status
In the system commonly used in Albanian, it is called “billion.” In English, the version is known as “trillion.” One trillion is written with 12 zeros = 1,000,000,000,000.
SpaceX goes public, Musk on track to become a trillionaire
The most advanced satellite technology company, SpaceX, has gone public on international financial exchanges.
Until now, it was a private company, and now investors can buy shares.
And upon its release, the company broke every record, while its boss, Elon Musk, is on track to become the first trillionaire.
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Elon Musk becomes the world's first half-trillionaire
In the initial public offering, its value is projected at $135 per share, valuing the company at more than $1.77 trillion.
If this is achieved, then Elon Musk would become the world's first trillionaire. He controls 80 percent of the company, which is known for building rockets and infrastructure used by NASA.
