Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut

Elon Musk's SpaceX rocket company listed on the Nasdaq stock exchange in New York with a value of $2.2tn. The company's shares soared during the biggest-ever stock market debut, with trading opening at $150 and briefly reaching $176.50. SpaceX shares closed at $160.95, raising $75bn from investors to fund AI and reusable rocket technology. Musk's 42% ownership stake in the company is worth around $884bn, making him the world's first trillionaire on paper.