Elon Musk, CEO of Tesla, is nearing the status of the world's first trillionaire following the initial public offering (IPO) of his aerospace company, SpaceX. A trillionaire is defined as an individual with a net worth exceeding $1 trillion (approximately 1,520 trillion won).
On June 11, local time, Reuters and Business Insider reported that SpaceX has set its IPO price at $135 per share (about 205,000 won) and plans to sell 555.56 million shares, raising $75 billion (approximately 114 trillion won). Based on this offering price, the company's valuation is estimated at $1.77 trillion (approximately 2,690 trillion won).
The Bloomberg Billionaires Index reflects the value of Musk's stake in SpaceX at $971 billion (approximately 1,476 trillion won), an increase of $274 billion (about 416 trillion won) since the IPO price was announced.
Musk's holdings in SpaceX are valued at approximately $688 billion (about 1,046 trillion won). According to Bloomberg's calculations, if the value of his other assets remains unchanged, Musk would need SpaceX's stake to rise to $717 billion (about 1,090 trillion won) to reach a net worth of $1 trillion. This milestone could be achieved if SpaceX's stock price rises to $140.71 (about 214,000 won) after the IPO.
At the time of the IPO, Musk owns about 39% of SpaceX's outstanding shares. He could receive an additional stake of around 10% if certain performance conditions are met, and he will maintain 82% of the voting rights through preferred shares even after the IPO.
This IPO surpasses the previous record set by Saudi Arabia's state-owned oil company, Aramco, in 2019. Immediately after going public, SpaceX is expected to be recognized among the highest-valued companies listed on U.S. stock exchanges.
However, uncertainties surrounding the high valuation remain. Reuters noted that SpaceX reported a loss last year and that a significant portion of its revenue relies on its satellite internet service, Starlink. Dependence on government contracts and competition from rivals could also impact future stock performance.
* This article has been translated by AI.
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