SpaceX (SPCX.US) surged more than 19% on its first day of trading, with Musk becoming the first trillionaire in human history.

With SpaceX officially landing on the NASDAQ on Friday and soaring more than 19% on its first day of trading, its market value has surpassed $2.2 trillion, breaking the record for the largest IPO in US capital market history and propelling founder Elon Musk to unprecedented heights, becoming the first person in global history to surpass a net worth of $1 trillion As of Friday's close, SpaceX's stock price rose by 19% to $160.95. Based on the latest stock price, the company's market value reached approximately $2.2 trillion, exceeding Tesla Inc.'s market value of about $1.5 trillion, making it the most valuable core asset in Musk's business empire. According to the Bloomberg Billionaires Index, with the surge in SpaceX's stock price, Musk's net worth reached approximately $1.1 trillion, becoming the first individual in history to surpass the trillion-dollar mark in wealth. This figure is more than three times the wealth of the world's second richest person, Larry Page, co-founder of Alphabet Inc. In fact, just over a decade ago, billionaires with wealth exceeding $100 billion first appeared on the Bloomberg Billionaires Index. Musk, who broke this milestone in 2020, has raised his wealth to the trillion-dollar level in just a few years. For comparison, a wealth of $1.1 trillion exceeds Switzerland's annual GDP. Based on the $3.4 billion income of hedge fund founder Steve Cohen last year, even earning the same amount consistently for nearly 300 years would only accumulate wealth equivalent to Musk's. Even in terms of average distribution, each of Musk's 14 children would inherit enough wealth to be among the top 30 wealthiest individuals in the world. Independent compensation consultant Dan Walter said, "This is no longer intergenerational wealth in the traditional sense, but a wealth scale that is almost infinite." While Musk has long been known in the capital markets for Tesla Inc., the core driver of his ascension to a "trillionaire" has shifted. For more than a decade, Tesla Inc. has been the main source of Musk's wealth growth. Since its IPO in 2010, Tesla Inc.'s stock price has increased by about 350 times, making it one of the best-performing stocks in the global capital markets, and helping Musk maintain the position of the world's richest person for a long time. Recently, as SpaceX has rapidly risen, the focus of the capital markets has begun to shift. Founded in 2002, SpaceX was initially just a commercial rocket company, but it has now developed into a super platform that covers commercial space, satellite internet, and artificial intelligence infrastructure. Among them, the Starlink satellite internet business has become the company's main source of revenue. Data shows that Starlink currently has about 12 million active users, contributing over 60% of the company's revenue. With a global network of over 10,000 low-orbit satellites, SpaceX has become one of the world's largest satellite internet service providers. At the same time, the company has recently entered the AI computing and infrastructure market rapidly through large-scale cooperation agreements with companies such as Alphabet Inc.'s parent company Alphabet and Anthropic. In terms of valuation change, SpaceX's growth rate is also amazing. In 2021, the company was valued at about $100 billion in a financing round. After completing the integration with xAI and the social platform X in February this year, the company's valuation has risen to about $1 trillion. After this IPO, the market value further surpassed $2.2 trillion. Currently, SpaceX-related assets account for over 70% of Musk's personal wealth. For ordinary investors, SpaceX's listing also signifies a change in the capital markets landscape. For over a decade, Tesla Inc. was almost the only public market entry point for investors to participate in Musk's business empire. But now, with SpaceX going public, investors finally have a new choice. Compared to Tesla Inc., which is currently facing pressure from slowing sales growth, increased competition in the electric vehicle market, etc., the commercial space, satellite communication, and artificial intelligence infrastructure represented by SpaceX evidently have a stronger market imagination space. Viraj Patel, a strategist at Vanda Research, said, "In the past, the market chased electric vehicles, but now AI is replacing electric vehicles as the hottest topic in the capital markets. SpaceX has become the new star company." Data shows that the scale of retail investors' subscription orders during the IPO exceeded $100 billion. The total subscription demand for this IPO surpassed $350 billion, making it one of the most sought-after new stocks in recent years.