Elon Musk world's first trillionaire after SpaceX debut: Bloomberg

NEW YORK: Elon Musk became the world's first trillionaire Friday following a surge in SpaceX shares in its Wall Street trading debut, according to US media.

Shares of the tech and artificial intelligence enterprise vaulted more than 21 percent in early trading, lifting Musk's estimated wealth to above $1 trillion, according to Bloomberg and CNBC.

Musk's fortune is heavily composed of equity or "paper" holdings, rather than cash.