By Samuel Gonzalez
The arrival of SpaceX to the stock market became one of the most important financial events in recent years. The debut of the aerospace company on Wall Road not only attracted the attention of investors around the world, but also caused a historic change in the list of the largest fortunes on the planet: Elon Musk took off as the first billionaire in the world.
Thanks to the SpaceX IPO, Elon Musk managed to surpass the threshold of one trillion dollars in net worth. The company priced its shares at $135 during its initial public offering (IPO), which boosted the value of the businessman’s stake and raised his fortune to approximately $1.005 billion dollars.
Before this move, Musk’s wealth was estimated at about $813 billion dollars. Even then, he already ranked first among the richest people in the world. The difference with second place was well-known, since the fortune of Google co-founder Larry Web page was estimated at around $288 billion.
The increase of Musk’s wealth is related to the huge stake he maintains in SpaceX. According to the documentation presented by the company, owns nearly 4.8 billion sharesequivalent to approximately 42% of the company. He also has hundreds of millions of stock options that further increase the value of his wealth.
Priced at $135 per share, Musk’s stake in SpaceX reaches a value close to $648 billion. Added to this are more than $44 billion dollars from their stock options. The result was an increase of almost $192.3 billion over the company’s previous valuation of its assets.
The operation also marked a record for Wall Street. SpaceX began trading on the Nasdaq under the symbol SPCX with a valuation of approximately $1.8 billion.. Additionally, the company expects to raise around $75 billion to support its growth plans.
“SpaceX wants to be able to take you to the Moon, take you to Mars and ultimately beyond”declared Elon Musk, founder and CEO of SpaceX, during an event held at Starbase in Texas.
The impact of the stock market debut could extend beyond its founder. Reports released by The Unique York Cases indicate that some 4,400 company employees could become millionaires thanks to the public listing of the shares.
The magnitude of Musk’s fortune has also reopened the debate about the concentration of wealth.
“Elon Musk’s rise to billionaire status marks a new milestone for the oligarchy,” Nabil Ahmed, senior director of economic justice at Oxfam America, told CBS News.
As SpaceX shares begin to find their value in the marketMusk’s wealth will continue to change day by day. What has already been recorded is that the company’s stock market debut has established a new benchmark in the history of great fortunes and the global technology sector.
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