SpaceX IPO makes Musk the world's first trillionaire
Kyiv • UNN
SpaceX raised $75 billion through an IPO at a company valuation of $1.77 trillion. This will allow Elon Musk to become the first trillionaire in world history.
Elon Musk is poised to become the world's first trillionaire, UNN reports, citing The Wall Street Journal.
Details
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.