SpaceX to List on Nasdaq, Elon Musk Becomes World's First Trillion-Dollar Billionaire

(Taipei, November 11, New York Correspondent Liao Han-Yuan) SpaceX, the American aerospace company, will list on the Nasdaq Stock Exchange tomorrow. This marks another high-profile initial public offering (IPO) by tech entrepreneur Elon Musk, following Tesla’s debut. Musk, the world’s richest person, is poised to become the first individual whose combined wealth—bolstered by SpaceX’s soaring market valuation—surpasses one trillion dollars.

Founded over 20 years ago, SpaceX will begin trading on the Nasdaq at 10:00 AM Eastern Time on the 12th, potentially becoming the largest IPO in history. Established by tech billionaire Elon Musk, the rocket launch and space exploration company has overcome multiple launch failures to emerge as a leading global rocket designer and manufacturer, and a key player in next-generation communication technologies.

SpaceX plans to list under the ticker symbol SPCX at $135 per share, raising $75 billion in funding. Its estimated market capitalization stands at approximately $1.8 trillion, potentially placing it among the world’s top 10 most valuable companies.

Musk became CEO of electric vehicle startup Tesla in 2008. Tesla went public on the Nasdaq in June 2010 at $17 per share. Sixteen years later, its stock price has reached $400, with a market cap of about $1.5 trillion. Now, Musk is set to make waves in the New York financial market once again.

Approaching his 55th birthday, Musk’s stake in SpaceX is valued at $860 billion. On the 12th, he will become CEO of two companies ranked among the world’s top 10, solidifying his position as the world’s wealthiest individual and the first trillionaire in history.

SpaceX’s Nasdaq debut will benefit not only Musk and early investors but also its workforce. According to estimates cited by The New York Times from the tech investment platform hill.com, approximately 4,400 SpaceX employees will become millionaires upon listing, with around 400 instantly holding over $100 million in assets.

Musk has turned his vision and execution into financial assets, propelling him to the top of the global wealth rankings. While investment banks overseeing the IPO are optimistic about SpaceX delivering returns comparable to Tesla, this remains to be proven.

The New York Times quoted Jim Chanos, the investor who predicted Enron’s 2001 collapse, saying, “It feels similar to not knowing who’s behind the curtain.” Chanos and other investors have raised concerns about SpaceX’s financials. The company reported a $4.3 billion loss in the first quarter of this year, despite heavy investments in artificial intelligence. While revenue grew to $4.7 billion during the same period, it lags far behind other tech giants. For comparison, Meta, parent company of Facebook, generated $56.3 billion in revenue during the same quarter and holds a market cap of $1.4 trillion. (Edited by Wei-Shu) 1150612

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