SpaceX IPO Could Propel Elon Musk to Become the World’s First Trillionaire

SpaceX is set to go public this month in what could become the largest IPO in history. The company plans to sell 555.6 million shares at $135 each, targeting up to $75 billion in proceeds and a $1.77 trillion market valuation. Musk would retain 82.4 percent of voting power through his Class B shares after the offering. With Forbes currently valuing his net worth at $826 billion, the IPO would add roughly $223 billion to his fortune and push him past the trillionaire mark. Last year SpaceX reported a $2.6 billion operating loss on $18.7 billion in revenue. The filing also outlines plans to fund moon missions, expand its Starlink network and pursue a human colony on Mars. The shares will trade on Nasdaq under the ticker SPCX.

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