Elon Musk Becomes a Trillionaire Following SpaceX IPO
Elon Musk officially attained trillionaire status with the IPO of Space Exploration Technologies (NASDAQ: SPCX). Musk’s holdings in SpaceX and Tesla (NASDAQ: TSLA) combined are valued at approximately $1 trillion, contingent upon market fluctuations. As of the end of June, SEC filings reveal he controls 6.4 billion shares of SpaceX, equivalent to 48.4% of the company’s total shares.
The filings indicate that Musk holds only 849 million Class A shares, while the majority are Class B shares, granting him more than 85% of the voting power. This enables Musk to unilaterally make significant business decisions, exemplified by the recent $60 billion acquisition of Cursor, an AI coding agent. These dynamics position him to potentially pursue a merger between Tesla and SpaceX, leveraging voting control during negotiations, despite concerns for existing SpaceX shareholders.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
