Elon Musk on track to become world’s first trillionaire today as SpaceX lists on US stock market – business live

Rolling coverage of SpaceX’s record-breaking initial public offering, after Elon Musk’s company is valued at $1.77tn in share offeringSpaceX to list on US stock market at $1.77tn valuation in largest ever debutSpaceX’s shares will be supported by a number of “forced buyers”, such as tracker funds.Richard Hunter, head of markets at interactive investor, explains:The Nasdaq index has tweaked its rules, which has allowed SpaceX to join the index on a fast-track basis. It remains to be seen whether the company will have a disproportionate effect on the index in terms of weighting, but in any event its inclusion guarantees some additional and significant buying pressure. Continue reading...