Absolute Wall Street Record: Elon Musk Officially Declared First Trillionaire in History
Business
The global financial system has recorded an unprecedented historical milestone: the planet has seen its first-ever dollar trillionaire, whose aggregate wealth has surpassed a previously unimaginable threshold. American entrepreneur Elon Musk has officially secured this status driven by the massive initial public offering (IPO) of his aerospace corporation, SpaceX. According to joint calculations by Forbes and Reuters based on internal company filings, the businessman's personal net worth will top $1,1 trillion the exact moment trading commences on Friday, June 12, on the Nasdaq exchange.
The primary catalyst for the billionaire's unprecedented wealth surge was his equity in SpaceX, which is now valued at approximately $866 billion. Ahead of the listing, the company announced it would raise a record-breaking $75 billion, completely eclipsing the previous historical record held by Saudi Arabia's state-owned oil giant Saudi Aramco, which raised $25.6 billion in 2019. Financial experts emphasize that at an offering price of $135 per share, SpaceX’s total market valuation has reached a colossal $1.75 trillion. Combined with the capitalization of electric vehicle giant Tesla and Musk's other technological assets, this IPO has permanently rewritten the global rankings of the world's wealthiest individuals.
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