Elon Musk has become the first trillionaire in history. He reportedly increased his wealth after his company SpaceX went public. The IPO raised $75 billion, marking an all-time record in stock market history, Reuters reports.
However, the Washington Post notes that he has become a trillionaire «on paper» only. The valuation of Musk’s wealth includes stock options and shares he is expected to receive in the future, contingent on meeting certain conditions — including the launch of space-based data centers and the creation of a human settlement on Mars. Without these future shares, Musk’s current assets are estimated to be slightly below the trillion-dollar mark.
The day before, SpaceX reportedly issued 555.6 million common shares at a public offering price of $135 per share. The company’s initial valuation reached $1.77 trillion, enabling SpaceX to raise $75 billion in funding.
Trading is set to begin on June 12 on the Nasdaq exchange, where the company’s shares will be listed under the ticker symbol SPCX.
