Remember Musk’s on-again, off-again pursuit of Twitter, before he finally agreed to go through with his $44 billion purchase and rename the popular social media site, X.
Musk may ultimately feel a public offering isn’t worth the hassle. Companies that were once ripe for IPOs have increasingly remained private given the buoyant market for the trading of non-public shares, and the lack of regulatory intervention it provides. SpaceX recently issued private shares that set its market value at around $800 billion.
Musk, who owns 42% of SpaceX, became the world richest man mainly by building Tesla. That said, with SpaceX’s valuation now soaring even as a private company, the world’s richest man is even richer, adding a couple hundred billion to his net worth in recent days. His fortune is now pegged at more than $680 billion as this column goes to press, the first individual to reach that milestone.
A SpaceX IPO could take that number higher: Don’t be surprised if Musk becomes the world’s first trillion-dollar man. Musk is also working on an AI product, xAI, which Yahoo finance says could have a valuation of $230 billion.
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It's available again - jump on it
before it disappears again...
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I have two - one in each vehicle...
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Poor people buy food. Middle class buy things. The rich buy companies. Musk's wealth is all tied up stock. That stock is control of the companies he owns.
ReplyDeleteMost CEOs are interchangeable and of not much value. The only other one I can think of that was of value was Steve Jobs. Without Musk (who made his first millions off PayPal), Tesla would not exist, electric cars would be at least 20 years behind where they are, SpaceX would not exist, space exploration would have come to a halt for Americans, and astronauts would have died. The United States is phenomenally lucky to have Musk.