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<\/p>\nSome SpaceX shares were sold in secondary transactions at a valuation of about $US400 billion earlier this year, but that figure isn\u2019t included since the amount of stock sold couldn\u2019t be determined. Data provider Pitchbook calculated it at less than $US50 million.<\/p>\n
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A SpaceX IPO could be the biggest in history. Credit: Bloomberg<\/p>\n
Ambitious goals<\/p>\n
Musk\u2019s path to becoming a trillionaire, whether it\u2019s through Tesla or SpaceX, isn\u2019t without challenges.<\/p>\n
At Tesla, Musk\u2019s pay package only vests as the company meets certain targets. The most ambitious goals include hitting a market value of $US8.5 trillion, up from roughly $US1.5 trillion currently, and adjusted earnings before interest, taxes, depreciation and amortisation of $US400 billion, compared with less than $US13 billion last year.<\/p>\n
Tesla\u2019s board justified the package by arguing it was needed to get the full attention of their chief executive officer.<\/p>\n
At the same time, a $US1.5 trillion IPO for SpaceX, where Musk is also CEO, would mean nearly matching the record set by Saudi Aramco when it went public in 2019 at a $US1.7 trillion valuation. The oil giant pulled in revenue of about $US360 billion the year before its listing. SpaceX is said to expect revenue of roughly $US15 billion this year, Bloomberg reported.<\/p>\n
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Still, SpaceX has a track record of rapidly-growing valuations and plenty of investor enthusiasm. The company, which builds rockets and operates the Starlink satellite internet service, is working on a new deal that will allow employees to sell around $US2 billion worth of stock at a valuation of more than $US800 billion, Bloomberg reported.<\/p>\n
If finalised, that would again make it the world\u2019s most valuable private company after losing that crown to OpenAI earlier this year, and add more than $US180 billion to Musk\u2019s net worth.<\/p>\n
If Musk\u2019s other paths to becoming a trillionaire don\u2019t work out, he still has xAI, which hit a $US200 billion valuation in September.<\/p>\n
Bloomberg<\/p>\n