Elon Musk becomes world’s first trillionaire as SpaceX ends trading day with valuation of $2.1tn – as it happened

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SpaceX raised $75bn in the largest-ever public offering, with shares closing at $160.95, a 19% pop from the $135 IPO price, giving the company a $2.1tn valuation. The day’s trading pushed Elon Musk’s net worth past the trillion-dollar threshold, drawing statements from Senators Bernie Sanders and Elizabeth Warren, Governor Gavin Newsom, and Mayor Zohran Mamdani, each calling for wealth taxes or condemning economic inequality. French economist Gabriel Zucman warned the concentration of wealth could pit democracy against oligarchy.