It’s Official: SpaceX Is Largest IPO Ever and Musk is the First Trillionaire

But Elon Musk just went from the world's richest person to the world's first trillionaire after the successful IPO of SpaceX.Because SpaceX priced its IPO at $135, a share officially making it the largest public offering in history.And it also meant that Elon Musk's net worth jumped from roughly $795 billion to over $1 .1 trillion by midday Friday.So Musk's net worth now makes him richer than Larry Page, Sergey Brin, and Jeff Bezos, combined.Or I guess about seven Warren Buffets.And while there are many that are celebrating, the fact that there's a trillionaire in the world at all, it's rubbed some people the wrong way.

Senator Bernie Sanders blasted it as an absurdity and is calling for an increase on the taxable income cap.There, people say, you know, Musk doesn't have a trillion dollars just sitting around.That number kind of just exists on paper.Noting that Musk controls over 82 % of the voting power at SpaceX post IPO with a massive catch there being that he can't sell a single share for a year.Of course, in the business world, a lot can happen, especially if this AI bubble ever pops.And while it's also complicated because on one hand, you know, Musk can't get taxed on this until he actually sells, On the other hand... billionaires often leverage the fact that they have these assets for huge lines of credit.

And those are not taxed.So it leads to the situations where they have access to the cash without really ever getting taxed because they'd never sell an asset.And on the business side, that year pause, it gives investors more time to scrutinize SpaceX, which reportedly lost over $41 billion since 2002.Though you have Musk claiming that it's actually cashflow positive since 2015.And he hopes that'll expand as the company continues to bet heavily on Starlink, XAI, and even putting a man on Mars.Though as far as SpaceX's value from here over the coming weeks and months, you have experts saying it could go all over the place.

At least for now, looking like a massive win for Musk.With many seeming to be investing into Musk himself and the hype around him rather than any of the actual numbers that people have been seeing.But hey, time will tell, so follow to stay in the loop.