00:00It's Benzinga bringing Wall Street to Main Street.
00:02SpaceX plans to price its upcoming IPO at $135 a share, valuing the company at about $1.77 trillion,
00:09according to CNBC. The offering would push Elon Musk's SpaceX stake to $866.5 billion on paper,
00:15bringing him close to trillionaire status. Musk, 54, also holds Tesla stock worth about $355
00:21billion, with options that could add over $100 billion more. Forbes currently lists his net
00:25worth at $826 billion, well ahead of second-place Larry Page at just below $300 billion.
00:30Musk's voting control of SpaceX after the offering will exceed 82%, though he must hold
00:33all shares for one year. SpaceX generated $18.67 billion in revenue last year. The company
00:38has tied Musk's compensation to a $7.5 trillion market cap milestone in colonizing Mars, with
00:42at least 1 million inhabitants. For all things money, visit Benzinga.com.
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