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Elon Musk is poised to become the first trillionaire
SpaceX’s planned IPO could lift Musk’s paper wealth to $1.11 trillion, while critics warn the offering could affect retirement savings and market stability.
- On Friday, SpaceX will launch its initial public offering on the Nasdaq at $135 per share, targeting a $1.77 trillion valuation and potentially making it the largest IPO in history. CEO Elon Musk is poised to become the world's first trillionaire.
- Musk retains 85 per cent of voting control despite selling shares to the public, maintaining near-total authority over SpaceX. His combined holdings in Tesla and SpaceX could reach $1.11 trillion following the offering.
- Demand for the IPO is reportedly four times greater than the 555 million shares available at the fixed price of $135 per share. Sen. Elizabeth Warren raised "extreme concern" that fast-tracked index inclusion could endanger millions of Americans' retirement savings.
- Beyond the IPO, Musk remains focused on establishing a sustainable Mars colony capable of supporting 1 million inhabitants. SpaceX's prospectus includes a performance-based incentive awarding him 1 billion shares if the company successfully achieves this long-term goal.
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Leaning Left8Leaning Right0Center19Last UpdatedBias Distribution70% Center
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- 70% of the sources are Center
70% Center
L 30%
C 70%
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