Elon Musk becomes the world's first trillionaire with SpaceX's IPO
Summary
Elon Musk became the first person to have a fortune valued at over $1 trillion on paper after SpaceX set its stock price at $135 per share in its initial public offering (IPO). This IPO greatly increased Musk’s wealth and made him richer than nearly half the world’s population.Key Facts
- SpaceX set its IPO price at $135 per share.
- Before the IPO, Elon Musk was worth about $813 billion.
- After the IPO pricing, Musk’s net worth rose to about $1.005 trillion.
- Musk owns 42% of SpaceX’s shares, about 4.8 billion shares.
- Musk also holds 350 million stock options at a lower price.
- SpaceX’s ticker symbol is "SPCX."
- About 4,400 SpaceX employees may become millionaires from the IPO.
- Musk’s wealth is now higher than the combined wealth of the bottom 46% of the world’s population.
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