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SpaceX Could Make Elon Musk The First Person to Have a Fortune of Over $ 1 Trillion

Elon Musk, the CEO of Tesla and SpaceX, is the world's richest person, his fortune reaching recently the threshold of 200 billion dollars. But he won't stop here, according to Morgan Stanley analysts.

Experts say that Elon Musk could become the first man with a fortune of over 1,000 billion dollars, thanks to his space exploration company SpaceX, CNBC reported.

SpaceX has basically become the second most valuable private company in the world, with a valuation of over 100 billion dollars, following a sale of shares to existing investors.
Spacex Elon musk
SpaceX owner and Tesla CEO Elon Musk. 
REUTERS/Hannibal Hanschke

Elon Musk's SpaceX is a Huge Success and Keeps Flourishing

SpaceX has reached an agreement with new and existing investors to sell shares worth up to $ 755 million from insiders at $560 a share, people close to the deal revealed. This move raised the company's valuation to $ 100.3 billion.

SpaceX did not raise new capital at this time, with the purchase offer representing a secondary sale of existing shares.

The new share price represents a 33% increase from the company's previous valuation of $ 74 billion at $419.99 a share in February. At that point, SpaceX raised nearly $ 1.2 billion dollars.

The new valuation makes SpaceX the second most valuable private company in the world, after the Chinese company Bytedance and ahead of Stripe, which provides financial services through technology.

Starship and Starlink

The company's valuation has grown over the past few years, while SpaceX has raised billions of dollars to fund two major money-consuming projects, Starship and Starlink.

Starlink is the project by which SpaceX wants to build an interconnected network with thousands of satellites, the plan being yo to provide high-speed internet to users anywhere on the planet.

Starship is a huge, next-generation rocket developed by SpaceX to carry cargo and passengers on missions to the Moon and to Mars.

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