As SpaceX listed on Nasdaq, Elon Musk has become the world’s first trillion-dollar individual. If his stake in other companies of the group is included, his total net worth is estimated at 1.1 trillion dollars.
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The company had set the price for the SpaceX IPO at $135 per share. On Friday, the company’s shares were listed here at $150 and reached $164 within a short time. With this, SpaceX has become the sixth most valuable company in America.
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Elon Musk becomes the world’s first trillion-dollar individual
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Musk’s rocket and satellite company, SpaceX, has raised $75 billion by bringing the world’s largest IPO. At the IPO price, the company’s valuation was $1.77 trillion.
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The company sold more than 555 million shares through the IPO. According to media reports, Musk benefited the most from the IPO.
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Before SpaceX, Saudi Arabia’s state-owned oil company, Aramco, had brought the world’s largest IPO. It had raised more than $29 billion through the IPO, and with this, the company’s valuation reached $1.7 trillion.
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According to documents filed in the American securities market, SpaceX’s revenue for the first quarter increased by 15 percent to $4.69 billion, compared to $4.07 billion a year ago.
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Musk controls more than 85 percent of the shareholder votes in SpaceX through super-voting shares. Apart from SpaceX, artificial intelligence company Anthropic and ChatGPT creator OpenAI have also filed documents confidentially to bring an IPO. The valuation of each of these companies is close to one trillion dollars.
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400 employees expected to earn more than $100 million
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An analysis by San Francisco-based investment platform HillDotCom estimates that more than 4,400 existing and former SpaceX employees could also become millionaires from the IPO.
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It is believed that there will be about 400 employees who are expected to earn $100 million or more. Musk started SpaceX in 2002 and has given a new identity to the space industry with partially reusable rockets and a satellite internet service, Starlink.
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Musk’s company Tesla has given a return of 20,000 percent
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Musk is also the head of the electric car manufacturing company, Tesla. Since going public in 2010, Tesla has given a return of 20,000 percent to its shareholders.
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In other words, the wealth of investors has increased by more than $1.2 trillion. The Financial Times reported a few days ago that Goldman Sachs had told a potential investor that it expects SpaceX’s total revenue to reach $474 billion by 2030.
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Understand the value of a trillion-dollar valuation like this
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The combined wealth of Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and Google founders Larry Page and Sergey Brin is just over one trillion dollars.
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The total value of the 50 most valuable sports teams in the world is $353 billion, which is about one-third of Musk’s total net worth.
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The total value of all new cars sold in America last year is less than Elon Musk’s net worth. After homes, cars and trucks are the biggest purchases made by most Americans.
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