Topline<\/p>\n
A monthlong decline in Tesla shares has cut more than $50 billion from CEO Elon Musk\u2019s fortune, but the world\u2019s richest person is still expected to become a trillionaire this week amid record-setting demand for SpaceX\u2019s stock debut.<\/p>\n
A stock debut for Musk\u2019s aerospace firm should make him the first trillionaire, even as Tesla\u2019s latest slide cut into his fortune.<\/p>\n
dpa\/picture alliance via Getty ImagesKey Facts<\/p>\n
Tesla\u2019s shares, which hit a recent peak of $453.40 on May 13, have dropped by nearly 16% as of Wednesday\u2019s closing price of $381.59, which marked the seventh decline for the stock over the previous nine sessions.<\/p>\n
That nearly monthlong slide for Tesla has reduced Musk\u2019s net worth by about $51.5 billion, valuing his fortune at $782 billion, and still ranking him well above Google cofounders Larry Page ($290.9 billion) and Sergey Brin ($268.3 billion), the second- and third-richest people in the world, respectively, according to Forbes\u2019 Real-Time Billionaires list.<\/p>\n
Despite the slide, some analysts have become increasingly bullish for Tesla in recent days: JPMorgan, in a note led by analyst Rajat Gupta last week, set its stock price target for Tesla at $475 after previously projecting a 65% plunge to $145\u2014a prediction that Musk responded<\/a> to on X, writing, \u201clol.\u201d<\/p>\n The analysts cited Tesla\u2019s push into autonomous driving and robotics over near-term earnings, writing Tesla was at the \u201cforefront of physical AI\u201d and that the company was \u201cunmatched at industrial level scale.\u201d<\/p>\n what to watch for<\/p>\n SpaceX will set its final IPO pricing on Thursday, setting the stage for what\u2019s expected to be the largest-ever stock debut. The company disclosed last week it aimed to sell about 555.6 million shares at $135 per share, raising $75 billion in its initial public offering and potentially valuing the company at a record $1.77 trillion. Musk holds a 42% stake in SpaceX, and the $135-per-share target would guarantee him becoming the world\u2019s first trillionaire, valuing his combined shares and options at an additional $688 billion, according to Forbes\u2019 estimates.<\/p>\n surprising fact<\/p>\n SpaceX\u2019s debut would add billions to the fortunes of several executives and investors: Antonio Gracias<\/a>, who holds more than 503 million SpaceX shares, could have his $4.8 billion net worth surge by nearly $68 billion at a $135 IPO price. SpaceX president Gwynne Shotwell\u2019s stake could increase to $1.6 billion from $1.2 billion, and CFO Bret Johnson\u2019s stake, valued at $700 million, could make him a billionaire with a fortune estimated at $1.2 billion at the projected debut share price. <\/p>\n key background<\/p>\n A trading debut for Musk\u2019s SpaceX will likely make him the first person to be the chief executive of two companies with a market value of $1 trillion or more. SpaceX\u2019s IPO, which unveiled the company\u2019s finances as well as Musk\u2019s tight grip on shareholder voting power, is one of the most highly anticipated stock debuts expected this year along with OpenAI and Anthropic, both of which announced IPO filings in recent weeks. Some analysts have warned that SpaceX\u2019s IPO may be overvalued, including Morningstar, which projected SpaceX to trade at $63 per share and warned traders to wait until after the IPO to avoid volatility. \u201cBig Short\u201d investor Michael Burry has also pushed bearish criticism, arguing on his Substack there was \u201cnothing\u201d in SpaceX\u2019s IPO filing to suggest the company is worth $1 trillion, \u201clet alone $2 trillion.\u201d<\/p>\n further readingForbesElizabeth Warren Seeks Delay Of Blockbuster SpaceX IPO (Live Updates)By Ty Roush<\/a>ForbesLarry Ellison\u2019s Net Worth Plunges $10 Billion\u2014Falls Behind Bezos To Fifth-RichestBy Ty Roush<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline A monthlong decline in Tesla shares has cut more than $50 billion from CEO Elon Musk\u2019s fortune,…\n","protected":false},"author":2,"featured_media":698148,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,11,147536,1513,252338,302237,302236,1019,28588],"class_list":["post-698147","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-elon-musk","tag-elon-musk-net-worth","tag-spacex","tag-spacex-ipo","tag-spacex-share-price","tag-spacex-shares","tag-tesla","tag-tesla-shares"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/698147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=698147"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/698147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/698148"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=698147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=698147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=698147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}