Elon Musk may soon become the world’s first trillionaire. Actually, Elon Musk’s rocket and satellite company SpaceX is preparing to be listed in the stock market, which could be the biggest IPO in the history of Wall Street. After its listing, Musk’s net worth may cross 1 trillion. According to Forbes Billionaires List, Musk is currently the richest man in the world with a net worth of $807 billion i.e. Rs 77 lakh crore. On Wednesday, the company introduced plans to list under the ticker symbol SPCX. Due to which other information like finance-leadership of this company has come to light for the first time. How will Elon Musk become a trillionaire through IPO? SpaceX has estimated its own valuation at $1.25 trillion. According to BBC, with this valuation, Musk’s majority stake in SpaceX could be worth more than $600 billion. Including his current assets and this listing, Musk’s total net worth could cross the $1 trillion mark. Only last year, Musk became the first person in the world to cross the net worth of $500 billion. He is also the CEO of electric vehicle company Tesla. Musk holds 85.1% of the voting power in SpaceX through a combination of common shares and Class B shares. Leadership structure revealed for the first time The IPO filing has revealed the leadership and ownership structure of SpaceX for the first time. Musk serves as chairman of the company, while President and Chief Operating Officer Gwynn Shotwell also sits on the board. Other directors include Chief Financial Officer Brett Johnson, venture capitalist Randy Glenn, Steve Gerwitson, Luke Nosek, Ira Ehrenpreis, private equity executive Antonio Gracias and Google executive Donald Harrison. Musk’s Mars mission and salary terms: Musk has been getting a fixed salary of $54,080 every year since 2019. However, SpaceX said that Musk may get 15 tranches of 66,666,665 (6.66 crore) shares. Provided the company hits the target of valuation of $7.5 trillion with an increase of $500 billion in the stock market and successfully establishes a permanent human settlement on Mars with at least 10 lakh inhabitants. These shares will be given only when both the conditions are fulfilled and Musk remains employed in the company. Additionally, following the merger with xAI earlier this year, SpaceX has replaced Musk’s old compensation arrangement from the AI business with a new award of 302 million shares. This award is related to future valuation target and launching data centers providing 100 terawatt computing power annually. Focus on AI, Starlink and life beyond Earth Musk started SpaceX in 2002 as a rocket company, which expanded into telecommunications by launching the Starlink satellite internet service in 2021. The company has presented a big long-term vision in its 277-page prospectus with a focus on artificial intelligence, satellite connectivity and space exploration. The company said its mission is to discover multiplanetary life and understand the true nature of the universe. SpaceX will continue to rapidly build and launch satellites for the Starlink network. It also aims to use the Sun’s energy to power a truth-seeking AI that can advance scientific discovery and build a base on the Moon and cities on other planets. Big market opportunity of $28.5 trillion The company told investors that it sees a potential market opportunity of $28.5 trillion. This market includes $370 billion in space-enabled solutions, $1.6 trillion in connectivity services through Starlink satellites, and $26.5 trillion in artificial intelligence opportunities. Within the AI business, SpaceX estimates $2.4 trillion from launching data centers in space, $760 billion from potential consumer subscriptions, $600 billion from digital advertising, and $22.7 trillion from enterprise applications. SpaceX’s financial portfolio
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Elon Musk can become the world’s first trillionaire: SpaceX will bring the biggest IPO in America’s history; Valuation estimated at $1.25 trillion
