Elon Musk is poised to become the world's first trillionaire, UNN reports, citing The Wall Street Journal.
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His company SpaceX is set to begin trading shares on the Nasdaq exchange on Friday. On Thursday, it sold about $75 billion worth of shares, resulting in Musk's stake being valued at approximately $690 billion.
Combined with his assets in Tesla and other investments and real estate, his net worth exceeds $1 trillion, WSJ indicates.
Reuters is already noting that "SpaceX's IPO makes Elon Musk the world's first trillionaire."
"Elon Musk, the ambitious entrepreneur, ... has amassed a fortune that has made him the world's first trillionaire," the publication states.
SpaceX on Thursday priced the biggest-ever U.S. initial public offering 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 on the sale of 555.56 million shares, valuing the space, satellite and AI provider at $1.77 trillion, a record for an initial 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 shares rise to $138.50 per share at the start of trading on Friday, Musk will become the first trillionaire in world history, Forbes points out. He would also become a trillionaire if Tesla shares rise from $399 to $424 per share while SpaceX shares remain at $135, which the publication indicates is a less likely scenario.
SpaceX IPO to make Musk a trillionaire and his allies billionaires - report22.05.26, 08:30