SpaceX IPO launches in US markets, Musk becomes first trillionaire

SpaceX has made its debut on US public markets with a valuation exceeding $2 trillion, making CEO Elon Musk the world’s first trillionaire. The company’s shares opened at $150, an 11% increase from the IPO price of $135, with trading under the ticker SPCX. The IPO was significantly oversubscribed, attracting substantial investments from long-term investors and sovereign wealth funds. Despite a reported loss of nearly $5 billion last year, SpaceX’s revenue growth is driven largely by its Starlink subsidiary.

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