forbes valuation
Musk is by far the world’s richest person with a net worth of $1.1 trillion, according to Forbes’ estimates. Google cofounders Larry Page and Sergey Brin rank second and third with fortunes of $294.8 billion and $271.9 billion, respectively, the latter of which is just 24% of Musk’s. Musk owns 4.8 billion shares of the rocketmaker, valued at $715 million, and another 350 million stock options with an exercise price of $8.40 per share, worth $50 billion, bringing his total stake to about $765 billion. Forbes previously estimated Musk’s 40% stake at around $500 billion.
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key background
SpaceX’s highly anticipated initial public offering raised a record $75 billion at $135 per share, valuing the firm at $1.77 trillion, making it the largest-ever debut. A surge after shares opened on Friday further extended SpaceX’s market value ($2.1 trillion) ahead of Musk’s Tesla, valued at $1.4 trillion. The IPO was criticized by some analysts and lawmakers who argued shareholders would be negatively affected by Musk’s voting power, including Sen. Elizabeth Warren, D-Mass., who asked the Securities and Exchange Commission to delay the debut and said Musk was granted an “unprecedented level of power” over investors. Morningstar analysts wrote earlier this week that SpaceX will trade at $63 per share, roughly half of its IPO price, and “Big Short” investor Michael Burry wrote there was “nothing” in SpaceX’s IPO filing suggesting the company was worth $1 trillion, “let alone $2 trillion.”
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further reading
ForbesSpaceX’s IPO Just Made Elon Musk The World’s First TrillionaireBy Matt Durot
ForbesSpaceX Opens At $150—Surging 20% After Largest IPO Ever (Live Updates)By Ty Roush