Elon Musk may soon become the first person to have a net worth exceeding $1 trillion, as SpaceX’s anticipated stock market debut is on the way after the aerospace firm filed for an IPO last Wednesday.
An anticipated stock market debut for Musk’s aerospace firm may be the largest ever.
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Key Facts
- SpaceX submitted confidential IPO registration to the Securities and Exchange Commission, according to multiple reports, meaning the documentation is only available to regulators.
- Additional information about SpaceX’s IPO, including the number of shares to be sold and a price range, will be disclosed in a later filing.
- Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley are leading the offering, the Wall Street Journal reported, citing people familiar with the matter.
- With an expected listing in June, the public offering is estimated to value SpaceX at $1.75 trillion and raise $75 billion, which would more than double Saudi Aramco’s $29 billion debut in 2019 as the largest-ever IPO.
- SpaceX acquired Musk’s artificial intelligence startup xAI in February, consolidating two of his companies in a deal that valued the combined entity at an estimated $1.25 trillion.
- SpaceX did not immediately respond to a request for comment from Forbes.
Surprising Fact
Once SpaceX’s listing debuts, Musk will likely become the first person to be chief executive of two companies valued at $1 trillion. His Tesla has a market valuation of $1.4 trillion as of Wednesday.
Forbes Valuation
Musk is the wealthiest person in the world with an estimated net worth of $824.3 billion as of Wednesday. He became the first person to be worth $400 billion in 2024, and his fortune crossed the $500 billion, $600 billion, $700 billion, and $800 billion thresholds in 2025 and 2026, respectively. Musk holds an estimated 43% stake in SpaceX, which would all but guarantee his net worth rising above $1 trillion. Even before SpaceX’s IPO, Tesla shareholders approved a compensation package for Musk in November that could be worth close to $1 trillion, but requires the automaker to achieve several goals over the next decade.
Key Background
SpaceX’s much-anticipated filing will provide insight into the company’s operations and finances, after spending years developing products for NASA and other agencies. Musk was reportedly hesitant to take SpaceX public in 2013, telling employees at the time that Tesla went public because he “didn’t have any choice,” though he now likely seeks additional funding to bolster his xAI among competitors OpenAI and Anthropic. Musk has also sought to develop the first data centers in space, a concept OpenAI’s Sam Altman explored by possibly partnering with or acquiring a rocket company, the Journal reported.
What To Watch For
Possible IPO filings from OpenAI and Anthropic. On Tuesday, OpenAI announced it raised $122 billion in its latest funding round, bringing its post-money valuation to $852 billion with backing from Amazon, Nvidia, Microsoft and SoftBank. Anthropic is considering going public as soon as October in a listing that could raise more than $60 billion, according to The Information.
This article was originally published on forbes.com and all figures are in USD.
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