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

Musk is now worth $1.11tn according to the Bloomberg rich list, while SpaceX listed on the Nasdaq stock exchange with a value of $2.2tn.

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The Tesla and SpaceX founder comfortably cemented his status as the world's richest man, with his total net worth standing at $1.11tn (£828bn) according to the Bloomberg rich list.

It came as the rocket, telecommunications and artificial intelligence (AI) company listed on the Nasdaq stock exchange with a value of $2.2tn.

The company said its shares would be offered at $135 each, but trading opened at $150 and briefly reached $176.50 in a show of investor enthusiasm for potential business related to space and companies associated with Musk.

SpaceX shares closed on Friday at about $161.