Elon Musk's net worth rises by Rs 13 lakh crore post SpaceX's stellar market debut
Elon Musk, the richest person on the globe, added another $139 bn or Rs 13.28 lakh crore to his net worth after his company SpaceX made a strong debut on Nasdaq on Friday. Musk's net worth rose to $1.11 trillion at the end of market hours, according to data from the Bloomberg Billionaires Index. On a year-to-date basis, Musk's net worth has risen by $490 bn.
The Bloomberg Billionaires Index tracks the wealth of the world's richest individuals on a daily basis, ranking them according to their estimated net worth. The index is updated every business day at 5:30 p.m. New York time and recalculates fortunes in real time by factoring in movements in stock markets, macroeconomic trends and reporting by Bloomberg News journalists.
Earlier, SpaceX's stock closed 19.22% or $25.95 higher at $160.95 during its listing on Nasdaq on Friday. The stock of the firm engaged in aerospace, telecommunications, and artificial intelligence businesses made its market debut at $150, $15 higher to the IPO price of $135 per share.
Intra day, the stock hit a high of $176.52, rising 31% to the IPO price.
Earlier, SpaceX collected a whopping $75 billion in IPO proceeds, surpassing the $29.4 billion IPO from oil giant Saudi Aramco in 2019.
Meanwhile, stock of Musk's automotive firm Tesla also ended 1.82% higher at $406.43 on Nasdaq.
Musk has said that SpaceX went public to finance its long-term vision, which extends far beyond launching rockets. The company is pursuing ambitious plans that include deploying large-scale satellite networks, building data-centre infrastructure in space, and, ultimately, supporting human settlement on Mars.
"We want to be able to take anyone who wants to go to the moon, anyone who wants to go to Mars, or anywhere in the solar system, and maybe beyond the solar system at some point. We want to be able to take you there. Not just a few astronauts, I mean, you. Literally you. SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond. And I’m confident at this point that with the incredible team that we have here at SpaceX, we will do that for you," he stated in a video post on X (formerly Twitter).
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