Elon Musk, co-founder and CEO of Tesla, is literally rocketing on Falcon 9, to become the world’s first trillionaire. SpaceX, Musk’s rocket company, is set to trade under the ticker SPCX after the biggest Initial Public Offering (IPO) ever. He owns 4.8 billion shares of SpaceX, or about 42 percent of the company, as well as 350 million stock options exercisable at $8.39 per share

On June 11, the Space Exploration Technologies Corporation highlighted in a Securities and Exchange Commission (SEC) filing that its raising $75 billion – selling 555.6 million shares for $135 a piece. This propels SpaceX at $1.77 trillion, making SpaceX as the seventh most-valuable U.S. company.

Musk, the former Senior Advisor to the U.S. President Donald Trump, said in an interview that SpaceX had been cash-flow positive since around 2015. He wants to take SpaceX public to raise capital for a significant growth phase’. SpaceX is working towards putting over 100,000 satellites in orbit for communications, and to build, build artificial intelligence data centers in space.

SpaceX ‘Share’ Millionaires

SpaceX’s IPO and $8.39 per share means, the U.S. will have hundreds of more millionaires!

The rocket company’s current and former employees will run laughing and crying to the bank – they are likely to become millionaires in the I.P.O., according to an analysis by Hill.com, a San Francisco-based investment platform. Of those, about 400 are expected to earn $100 million or more.

Andrew Benson, the founder and chief executive of Hill.com, says it’s uncommon to have 400 people at that threshold of $100 million. “It speaks to the enormous wealth that’s being created here.”