Elon Musk is on the cusp of becoming the world's first trillionaire as SpaceX has filed for an initial public offering (IPO), which could be one of the largest in corporate history.
According to the company's latest prospectus, Musk holds around 5.1 billion shares in the rocket and artificial intelligence firm, along with approximately 350 million stock options exercisable at $8.39 each. If the IPO achieves the anticipated $2 trillion valuation, Musk's total wealth is projected to climb to an estimated $1.1 trillion, according to Bloomberg.
Even at a lower valuation of $1.75 trillion, Musk's fortune would likely surpass the trillion-dollar mark when combined with his existing holdings in Tesla and other ventures. This development signifies another major step in Musk's rapid wealth accumulation, largely fueled by the increasing valuations of his technology companies and investor interest in artificial intelligence and space infrastructure.
The IPO is slated to price on June 11, with trading expected to begin the next day. The offering is already drawing significant market attention as investors seek exposure to one of the world's most valuable private companies.
Bloomberg Billionaires Index currently estimates SpaceX's valuation at approximately $1.03 trillion, considering prior private transactions and the integration of xAI earlier this year. The public listing is anticipated to significantly reprice Musk's holdings once public market valuations are established.
The filing also offered a rare glimpse into Musk's compensation structure at SpaceX, which mirrors the performance-driven model previously employed at Tesla. One compensation package could award Musk an additional 1 billion restricted shares if SpaceX's market capitalization surpasses $7.5 trillion. However, the conditions for this award extend beyond conventional corporate targets.
Specifically, SpaceX would first need to establish a permanent human settlement on Mars with a population of at least one million people. Another incentive package could grant Musk over 300 million additional shares tied to valuation milestones approaching $6.6 trillion and the successful deployment of non-Earth-based data centers capable of generating 100 terawatts of computing power annually.
