The IPO pricing has reportedly increased Musk’s net worth to nearly $970 billion, placing him within reach of the trillion-dollar mark.
Image Source: X
Elon Musk-led SpaceX has reached a major financial milestone after pricing its initial public offering (IPO), a move that has pushed the company’s valuation to around $1.77 trillion and brought Musk closer to becoming the world’s first trillionaire.
SpaceX reportedly priced its shares at $135 apiece, raising nearly $75 billion in one of the largest IPOs in history. The company is expected to begin trading on Nasdaq under the ticker symbol ‘SPCX’.
Advertisement
The IPO pricing has reportedly increased Musk’s net worth to nearly $970 billion, placing him within reach of the trillion-dollar mark.
Advertisement
The IPO is estimated to have added around $275 billion to Musk’s wealth. His SpaceX holdings, including options, are valued at approximately $688 billion at the offering price.
Regulatory filings showed that Musk beneficially owns 849.49 million Class A shares and 5.57 billion Class B shares as of May 1, giving him a combined holding of about 6.42 billion shares.
Through SpaceX’s dual-class share structure, Musk controls more than 85 per cent of the company’s voting power, with Class B shares carrying higher voting rights than Class A shares.
Founded by Musk in 2002, SpaceX has grown into a leading aerospace company through its Falcon 9 and Falcon Heavy reusable rockets, Dragon spacecraft and Starship programme.
The company has also expanded its presence through Starlink, its satellite internet business.
The Nasdaq debut is expected to influence future technology listings, with other major artificial intelligence companies also being watched closely by investors.
SpaceX has said the capital raised will support major future projects, including orbital data centres, a lunar factory and Mars missions.
The company’s IPO marks a significant moment for public markets as investors look toward large-scale technology and artificial intelligence-driven businesses.
Advertisement
