SpaceX IPO set to make Elon Musk the world's first trillionaire
By
Erin Hale, John Power
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Summary
Elon Musk is poised to become the world's first trillionaire following SpaceX's record-breaking IPO on the Nasdaq, with a valuation of $1.77tn. Musk, already the world's wealthiest man with an estimated net worth of $696bn, holds a 42% stake in SpaceX. The milestone comes amid growing concerns over global inequality.
Key quotes
· 4 pulledElon Musk poised to make history as world's first trillionaire
Musk already holds the crown of the world's wealthiest man – worth roughly $696bn before SpaceX announced its record-breaking initial public offering
His 42 percent stake in the rocket-cum-AI company will take him into uncharted territory
SpaceX will begin trading at a valuation of $1.77tn when it debuts on the Nasdaq
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