Musk could become the first trillionaire thanks to SpaceX's IPO
SpaceX raised approximately $75 billion in its IPO, and its market valuation reached roughly $1.77 trillion. This sets the stage for its founder, Elon Musk, to become the first trillionaire in history.
His company, SpaceX, is set to begin trading shares on Friday on the Nasdaq stock exchange. On Thursday, it sold shares worth about $75 billion, resulting in Musk’s stake being valued at approximately $690 billion.
Combined with his holdings in Tesla and other investments and real estate, his net worth exceeds $1 trillion, according to the WSJ.
Reuters has already noted that "SpaceX's IPO makes Elon Musk the world's first trillionaire."
"Elon Musk, an ambitious entrepreneur, ... has amassed a fortune that has made him the world's first trillionaire," the publication states.
On Thursday, SpaceX priced the largest initial public offering (IPO) in U.S. history at $135 per share, making Elon Musk’s rocket and spacecraft manufacturer one of the world’s most valuable companies.
The IPO raised a record $75 billion from the sale of 555.56 million shares, valuing the provider of space, satellite, and AI solutions at $1.77 trillion, a record for an initial public offering.
According to Forbes’ calculations, this increased Musk’s net worth by $188 billion to approximately $982 billion. If Tesla’s stock price remains unchanged and SpaceX’s stock rises to $138.50 per share at the opening bell on Friday, Musk will become the first trillionaire in world history, Forbes notes. He would also become a trillionaire if Tesla shares rise from $399 to $424 per share and SpaceX shares remain at $135, which is a less likely scenario, the publication notes.
This was reported by The Wall Street Journal.
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