Market Chatter: Tesla CEO Elon Musk Set to Become World's First Trillionaire

MT Newswires Live18:12

Tesla (TSLA) Chief Executive Elon Musk is set to become the world's first trillionaire following the initial public offering of SpaceX (SPCX), CNBC reported Wednesday.

Musk's stake in the rocket and satellite communications firm is worth $866.5 billion on paper, CNBC reported, citing the company's prospectus.

SpaceX reportedly plans to price its IPO next week at $135 a share per share for a valuation of about $1.77 trillion, the report said.

Musk's stake in Tesla is about $355 billion, with another $100 billion in options, the report said.

Tesla did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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