Elon Musk, the world’s richest person, has become the world’s first trillionaire. His space technology company SpaceX has raised a record $75 billion through an initial public offering (IPO), which is being regarded as the largest IPO in history.
SpaceX raised the money by selling 556 million Class A shares at $135 per share. As a result of this pricing, the company’s market value stood at about $1.77 trillion.
When trading begins on the Nasdaq under the ticker “SPCX,” SpaceX is expected to become one of the most valuable listed companies in the world. According to IPO-related documents, after listing Musk will hold about 849 million Class A shares and 557 million Class B shares. Through these he will control 84.4 percent of the company’s total voting power. At the IPO price, the value of Musk’s declared SpaceX holdings on paper is about $866.5 billion.
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