SpaceX Shares Soar Again In Premarket

SpaceX shares soared more than 10% in the premarket early on Tuesday, after rising almost 20% in its first full day of trading on Monday following a historic IPO launch last week for the rocket and AI company, which made its founder and CEO, Elon Musk, the world’s first trillionaire.

The rocket company’s market cap crossed $2.5 trillion on Monday and if the premarket surge holds, its valuation could surge past $2.75 trillion.

SpaceX is currently the sixth most valuable company in the world and the premarket jump continues after the opening bell; it could overtake Amazon and inch close to Microsoft’s market cap.

According to Forbes’ estimates, Musk’s net worth as of Monday night’s market close is $1.3 trillion, making him the world’s richest person by a wide margin. Google founders Larry Page and Sergey Brin trail by over $1 trillion in second and third place on Forbes’ Real Time Billionaires list. On Monday alone, Musk’s fortune jumped by nearly $165 billion—more than the total net worth of Bernard Arnault, the world’s ninth richest person.

The share of Tesla, Musk’s other major public company, rose $1.16% on Monday to $411.15, putting the electric car maker’s market cap at nearly $1.3 trillion. The company’s stock, however, is down 1.63% in the premarket on Tuesday.