On Wednesday, SpaceX announced its plans to go public, potentially increasing Elon Musk’s wealth significantly.
This major IPO could generate substantial funds for the leading private space company and position Musk as the world’s first trillionaire.
Musk founded SpaceX in 2002, focusing initially on rocket development and payload delivery. In 2021, it expanded into telecommunications with the launch of Starlink, its satellite internet service.
In February, Musk merged SpaceX with xAI, his artificial intelligence venture that includes the social media platform X.
Currently, Musk is the richest person globally, with a net worth estimated between $667 billion and $807.7 billion, depending on the tracking index.
His wealth fluctuates daily by billions due to its heavy reliance on equity rather than cash, influenced by market trading.
Over the past year, Musk’s financial growth stems from ownership in major tech and aerospace companies.
The merger of SpaceX and xAI valued the combined company at $1.25 trillion, with Musk owning over 40%.
He also holds an 11% stake in Tesla, which saw a boost in his net worth after the Delaware Supreme Court reinstated his multi-billion dollar stock option package.
Additionally, Musk maintains valuable private stakes in Neuralink, The Boring Company, and X.
With the upcoming SpaceX IPO, market analysts predict Musk may soon become the world’s first trillionaire.
