Elon Musk is the world’s first trillionaire (on paper) thanks to the SpaceX IPO
Welcome to history’s first trillionaire. Sort of. Elon Musk’s SpaceX, a rocket, satellite internet and artificial intelligence company that’s bleeding cash and has puny sales compared to established technology giants, announced Thursday the price for its initial public offering of $135 per share. The step sets up a blockbuster IPO that ranks as the largest in history, at about $75 billion. Musk was already the richest person in the world, according to lists from Bloomberg and Forbes. He’s also in line to receive a trillion-dollar pay package if he hits certain milestones at the automaker Tesla. But the SpaceX IPO pushes him into trillionaire status, depending on how you count his wealth. According to SpaceX’s disclosures, Musk holds roughly half of the company’s stock, including shares that he might earn far in the future tied to accomplishments such as shooting computer data centers into space and creating a human settlement on Mars. Those Musk shares in SpaceX are worth about $867 billion at Thursday’s IPO…
11 Jun 00:00 · Inlandnewstoday