SpaceX · Tesla · Elon Musk · Google · Meta · CNBC Technology
Elon Musk's net worth poised to sail past $1 trillion in SpaceX IPO
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The world's richest person is on the doorstep of trillionaire status.
Key facts
- Forbes currently lists Musk's net worth at $826 billion, way above Google co-founder Larry Page, who sits in second place below $300 billion
- Meta, meanwhile, topped $200 billion in revenue, and Tesla recorded sales of almost $95 billion
- SpaceX has linked Musk's compensation rewards to two milestones: achieving a $7.5 trillion market cap and colonizing Mars with at least 1 million inhabitants
- WATCH: SpaceX looking to price IPO at $135 per share
Summary
SpaceX CEO Elon Musk owns a stake in his reusable rocket maker that's worth $866.5 billion on paper, according to the company's updated IPO prospectus published on Wednesday. For the 54-year old Musk, the SpaceX offering, which is expected next week, comes 16 years after he took Tesla public. Musk's voting control of SpaceX after the offering will be north of 82%, according to Wednesday's filing. "We believe that Mr. Musk's substantial ownership interest in us provides him with an economic incentive to assist us to be successful," SpaceX said in the risk factors section of the prospectus. Musk's net worth has been steadily building for well over a decade, with Tesla's stock starting to pop in a big way in 2013.