SpaceX founder Elon Musk is officially the world’s first Trillionaire as of June 12, after the company launched its first IPO valued at $1.77 trillion with shares priced at $135.
As the stock formally begins changing hands on the Nasdaq exchange today, June 12, under the ticker symbol SPCX, Musk’s net worth has surged past the $1.1 trillion threshold.
Elon’s net worth was approximately $813 billion before the IPO went public
Musk is slated to retain primary control of SpaceX while holding approximately 82.4% of the company’s voting power through Class B shares with augmented voting rights as CEO. “Teams are go for launch with a $135 price per share for the SpaceX IPO,” SpaceX shared on X.
If you’re wondering how Musk achieved this financial feat, here’s a short breakdown:
With Class A shares at $135 each, SpaceX successfully raised roughly $75 billion and completely shattered Saudi Aramco’s 2019 public record ($29.4 billion). The offering values the aerospace giant at roughly $1.77 trillion. By applying that valuation to Musk’s personal stake in the company, his SpaceX holdings are estimated to be worth around $866.5 billion. Combined with his reported $286.2 billion stake in Tesla, the figures place him firmly in trillion-dollar territory.
Economists argue that this mind-boggling fortune is still mostly just “paper wealth.” Because of strict SEC rules, Musk and his top executives can’t touch their new shares for a full year. He can’t sell them, and he can’t even use them as collateral to take out loans. For the next 366 days, his trillionaire status is completely at the mercy of whatever the daily stock market decides to do.
Incidentally, Trevor Hise, 37, a 2011 college graduate, has benefited from his decision to join SpaceX, amid reservations about the then-nascent intelligence firm. He finally accumulated 100,000 shares during his 12 years at the company, making his stake worth at least $13.5 million.
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