LONDON: US tech entrepreneur Elon Musk is the world’s first trillionaire after he ventured for the initial public offering (IPO) of his Spac...
LONDON: US tech entrepreneur Elon Musk is the world’s first trillionaire after he ventured for the initial public offering (IPO) of his SpaceX company, the Reuters news agency reported.
"SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk's empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures," according to the agency.
The US-based SpaceX company announced the price and number of shares on the eve of their public offering on the stock exchange on June 11. The company offered 555,555,555 stocks at a price of $135 per share. SpaceX securities will be traded on the Nasdaq electronic exchange starting June 12 under the SPCX index.
Reuters quoted Matt Durot, deputy editor at Forbes Wealth, as saying that: "The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow. And only one other person, (Oracle founder) Larry Ellison, has ever been worth $400 billion."
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