Elon Musk has become the world’s first trillionaire following a record-breaking initial public offering (IPO) by his space technology company, SpaceX. The IPO raised $75 billion through the sale of 555.6 million Class-A shares at $135 each, making it the largest IPO in history. The offering valued SpaceX at approximately $1.77 trillion.

Trading under the symbol “SPCX” on the Nasdaq, SpaceX is expected to become one of the world’s most valuable publicly listed companies. According to IPO documents, Musk will retain about 849.5 million Class-A shares and 55.7 billion Class-B shares, giving him control of 84.4 percent of the company’s total voting power. Based on the IPO price, Musk’s declared SpaceX holdings are valued at roughly $866.5 billion.

The listing marks a major milestone for both SpaceX and Musk, solidifying his position as the wealthiest individual globally and setting a new benchmark for corporate valuations in the space technology sector.