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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