Elon Musk becomes world's 1st trillionaire

Shares in Elon Musk’s SpaceX closed almost 20 percent higher on their trading debut on Friday after the biggest IPO in history, making the polarizing entrepreneur the world’s first trillionaire as he vowed to take humanity to Mars.

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The blockbuster initial public offering, which raised more than $75 billion, is expected to kick off a series of major IPOs by AI companies in the coming months.

The debut on the Nasdaq exchange in New York capped a weeks of investor frenzy over the rocket company turned AI and satellite conglomerate.

The stock climbed as high as $176, or 31 percent above its offering price of $135, in its first session before ending the day at $161.50.

"SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond," Musk said at a launch event in Starbase, Texas, surrounded by staff, many of whom became multi-millionaires with the launch of trading.