Elon Musk is ready to be one in a trillion.
The worldâs richest person is poised to get even richer and become the worldâs first Trillionaire with SpaceXâs highly anticipated stock market debut.
Musk is currently worth about $790 billion, but is expected to see his wealth top $1 trillion when his spacecraft and satellite communications company goes public Friday.
âFor him, it probably wonât be a very meaningful change. He already has an enormous amount of wealth, and this will be some more zeros,â said Michael Morris, a professor of leadership at Columbia Business School.
âI donât think for society it really matters that itâs Elon Musk, as opposed to anyone else,â he added. âBut our institutions are under our control, and our institutions are allowing greater levels of inequality, and we just know empirically that that puts democracy at risk.â
SpaceX is preparing for a massive initial public offering (IPO), with plans to raise a record-breaking $75 billion at a $1.77 trillion valuation.
Its intended $135 share price will make Muskâs stake in the company worth $866.5 billion on paper following the IPO.
With his stake in Tesla, Muskâs net worth could reach about $1.1 trillion.
This wealth is largely not liquid and is instead locked up in Muskâs companies, Morris said.
âItâs not like somebody winning the lottery,â he said. âItâs money that is his on paper, but with different time horizons of being available.â
Musk became the worldâs richest person in 2021, surpassing Amazon founder Jeff Bezos.
Musk has held onto his spot for the most part over the past five years.
The next closest billionaire to Musk is currently Google co-founder Larry Page.
Page has a net worth of about $290 billion.
They are followed by Google co-founder Sergey Brin with about $270 billion, according to Forbesâ Real-Time Billionaires list.