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22:32
SpaceX IPO could make Elon Musk the world's first trillionaire
If the company's valuation surpasses approximately $1.7 trillion, Musk's stake of just over 40%, combined with his Tesla shares, will make him the first person in history to reach a 13-figure net worth. This means Musk's personal fortune will exceed that of all American companies except for 10, roughly equal to Berkshire Hathaway, and higher than Eli Lilly and JPMorgan. Musk's current net worth has already surpassed that of ExxonMobil, the largest oil company in the United States. This calculation does not include restricted stock in SpaceX that has been granted to Musk but has not yet vested, though it does account for options he can exercise in the near term.
22:05
SpaceX has invested more than $15 billion in the Starship mega rocket, and Elon Musk once confidently stated the minimum would be $2 billion.
The company disclosed this data in a document submitted to the U.S. Securities and Exchange Commission (SEC) on Wednesday. The data shows that in 2025, SpaceX will spend approximately $3 billion on the Starship project, whereas the research and development investment in the previous year was $1.84 billion. Looking back to 2018, SpaceX CEO Musk predicted that the development cost of Starship would be between $2 billion and $10 billion. In April 2023, Musk predicted that SpaceX’s expenditure on Starship for that year would reach around $2 billion.
22:04
At the beginning of the Asia-Pacific session, Nasdaq futures fell over 0.4%, and S&P stock index futures dropped 0.3%.
Currently (after the US stock market closed), AMD is down 1.2%, Nvidia is down 1.2%, Qualcomm is down 0.8%, Intel is down 0.7%, C3.ai is down 0.7%, Micron is down 0.5%, and SanDisk is up 0.3%.
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