Elon Musk’s net worth drops $350 billion in massive SpaceX selloff—but he’s still a trillionaire
A selloff for Musk’s rocket maker wiped out roughly $900 billion in market value.
A selloff for Musk’s rocket maker wiped out roughly $900 billion in market value.
Elon Musk’s rocket firm pulled back from a rally that pushed its market value ahead of Amazon and Microsoft.
The $75 billion SpaceX seeks to raise in its historic IPO would value the company at roughly $1.77 trillion.
The company plans to sell about 555.6 million shares for $135 in the initial public offering.
Wall Street has speculated whether the world’s richest person will consider a tie-up for his two most valuable companies.
Australian Retirement Trust has backed Gilmour Space Technologies, extending the startup’s $217 million Series E which valued it at over $1 billion.
The space and AI company’s initial public offering could be valued as high as $2 trillion, which would be the biggest IPO ever.
Anthropic has also expressed interest in partnering up with SpaceX on the development of AI data centers in space.
An anticipated stock market debut for Musk’s aerospace firm may be the largest ever.
Elon Musk’s SpaceX acquired the billionaire’s artificial intelligence startup xAI, according to a Monday statement, consolidating two Musk-owned companies under one roof as xAI looks to build a space-based competitive edge against rivals like OpenAI, Google, Meta and more.