Elon Musk is on the verge of becoming the first person in history to have a net worth of over one trillion dollars. This massive jump in wealth is tied to his space company, SpaceX’s IPO. Investment banks are already lining up to help the company raise as much as Rs. 6.2 lakh crore.
If the sale goes as planned this June, the total value of SpaceX could reach a staggering Rs. 125 lakh crore. Since Musk owns a huge 42% stake in the company, his personal fortune is expected to shoot past the trillion-dollar mark, according to a Forbes report. This amount would easily beat the previous world record held by Saudi Aramco. Currently, Musk’s wealth is estimated at roughly Rs. 68 lakh crore.
SpaceX is much more than just a rocket company. It now includes Starlink, the world’s largest satellite internet service. Musk’s other businesses, such as the social media platform X and his artificial intelligence firm, xAI, have also become a part of SpaceX. While the company is a leader in sending satellites into orbit for global customers. The firm relies heavily on money from the US government. Over the last five years, SpaceX has won about Rs. 50,000 crore in government contracts from NASA and the military.
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Musk’s close ties to the government have raised questions about a conflict of interest as the IPO news creates buzz in financial markets. The billionaire mogul was a major supporter of Donald Trump’s presidential campaign. Trump’s oldest son also owns a stake in SpaceX through a venture capital firm. While the White House denies any issues, the company’s growth remains deeply linked to taxpayer spending. For now, the focus is on the upcoming IPO, which could fund Musk's goals of building a base on the moon or travelling to Mars.