Elon Musk's Wealth Surpasses Bitcoin Market Cap Following SpaceX IPO

Elon Musk’s net worth has surpassed the market capitalisation of Bitcoin just days after his space company, SpaceX, officially listed on the stock exchange, according to an analysis by RIA Novosti based on data from CoinMarketCap and the Bloomberg Billionaires Index (BBI) on Wednesday. The BBI recorded that Musk’s wealth rose by USD 42.5 billion in a single day and has soared by USD 696 billion since the start of the year, reaching USD 1.32 trillion. Meanwhile, CoinMarketCap reported Bitcoin’s capitalisation at approximately USD 1.314 trillion. SpaceX began trading on Friday (12/6). Its shares rose 19.22 percent on the first day, gained 19.6 percent on the second day, and increased a further 4.83 percent on the third day. With this surge, SpaceX is now the world’s fifth most valuable company by market capitalisation, ranking below US technology giants Nvidia, Alphabet, Apple, and Microsoft. A day earlier, SpaceX had even surpassed Amazon in terms of company valuation.