Will Musk Become a Trillionaire Today?

SpaceX is poised to make history today as its shares begin trading on the Nasdaq, following what is anticipated to be the largest initial public offering ever. This momentous event could potentially elevate Elon Musk to the status of the world's first trillionaire.

The company intends to offer 555 million shares at a price of $135 per share, a move that would value SpaceX at an estimated $1.8 trillion. The offering has already raised over $75 billion, more than double the amount secured by Saudi Aramco in its 2019 IPO, which previously held the record.

This debut also signifies a major entry point for artificial intelligence companies into the public market. SpaceX, described as partly an AI company, is joined by OpenAI and Anthropic, both of which have also initiated processes to go public.

Despite some skepticism regarding SpaceX's valuation, with critics suggesting Musk's ambitious goals like space-based data centers and Mars colonization belong more to science fiction, investor confidence remains high. Musk's ventures, including Tesla and his social media platform X, have kept him in the public eye. For SpaceX to meet expectations, its Starlink satellite internet service and Grok AI chatbot must justify the substantial valuation.