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🇰🇷 South Korea /Economy & Trade

Musk Nears Trillionaire Status Ahead of SpaceX IPO

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • Elon Musk is on the verge of becoming the world's first trillionaire due to the upcoming IPO of his space company, SpaceX.
  • Musk's net worth has surged to $971 billion, with SpaceX shares valued at $135 per share in the IPO, contributing significantly to his wealth.
  • The SpaceX IPO is expected to raise approximately $75 billion, further solidifying Musk's position as the world's wealthiest individual.

Elon Musk is poised to shatter financial records, potentially becoming the first trillionaire in human history thanks to the planned initial public offering (IPO) of his aerospace company, SpaceX.

According to the Bloomberg Billionaires Index, Musk's net worth has soared to an astonishing $971 billion. This substantial increase is largely attributed to the valuation of his SpaceX holdings, which are being assessed at the IPO price of $135 per share. The company's IPO is anticipated to raise around $75 billion, further bolstering Musk's already immense fortune.

With SpaceX's stock price expected to rise post-listing, Musk's transition to trillionaire status seems imminent, marking an unprecedented milestone. He already holds the title of the world's richest person, with his wealth now nearly three times that of the second-richest individual, Larry Page, co-founder of Alphabet.

DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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