The biggest initial public offering of all time will deliver massive windfalls for Elon Musk, other SpaceX employee, and investors.
In fact, shares aren’t even public yet, but Musk may have already become the world’s first trillionaire. Based on how SpaceX has traded recently on private markets, Barron’s calculated the CEO’s 6.4 billion shares are worth $830 billion. Add his $290 billon in Tesla stock, and he’s now sitting on $1.1 trillion.
For now, however, the Bloomberg Billionaires Index puts Musk’s net worth at $722 billion, still plenty to make him with world’s richest person.
SpaceX filed publicly for the IPO on Wednesday. A roadshow will likely kick off on June 4. Pricing would follow a week after that, with a trading debut on the Nasdaq coming on June 12 under the ticker SPCX.
The rocket, satellite, and AI company is seeking to raise up to $80 billion at a valuation that could near $2 trillion. If the company surpasses $1.7 trillion after going public, it would confirm Musk’s $1 trillion net worth.
