Elon Musk's Net Worth Surges $3B in a Day to $491B After SpaceX Eyes $30B IPO

Elon Musk's net worth could soar to $1 trillion (£750.6 billion) by 2033, according to reports, as the first of two vesting dates for his $1 trillion pay package approaches. His wealth remains closely linked to Tesla, alongside ventures such as xAI and SpaceX.

According to The Forbes Billionaire List, Musk's net worth increased by $3.1 billion (£2.3 billion) to $491 billion (£368.5 billion) on Tuesday, following reports that SpaceX is advancing its plans for an initial public offering (IPO) to raise over $30 billion (£22.5 billion). If successful, this transaction would mark the largest IPO of all time.

A $1.5 Trillion Valuation for SpaceX

SpaceX is targeting a valuation of around $1.5 trillion (£1.1 trillion), comparable to the market capitalisation of Saudi Aramco. The oil giant raised approximately $29 billion (£21.7 billion) during its 2019 listing.

The aerospace firm aims to list on the stock exchange in mid-to-late 2026, although the timing remains flexible depending on market conditions. Sources have indicated to media outlets that the IPO could be pushed back to 2027.

The news surrounding SpaceX's potential listing has also positively impacted shares of other space-related companies. EchoStar, which is expected to sell spectrum licences to SpaceX, experienced double-digit gains in a single trading session. Meanwhile, Rocket Lab's shares rose by as much as 4.3%.

In recent days, Musk and the SpaceX board have accelerated their preparations for the IPO and fundraising. Their plans also include appointing key leadership roles and refining capital expenditure strategies.

The company's IPO is primarily driven by the development of the Starship rocket and the robustness of its Starlink satellite internet service. It is forecasted that SpaceX will generate around $15 billion (£11.2 billion) in revenue in 2025, with projections rising to approximately $24 billion (£18 billion) in 2026, most of which is expected to come from Starlink services.

SpaceX's Plans for the IPO Funds

A portion of the proceeds from the IPO will be allocated towards constructing space-based data centres, including the purchase of the necessary chips to operate them.

In the current secondary offering, SpaceX has set a per-share price of approximately $420 (£315), which values the company above the $800 billion (£600 billion) mark reported earlier. Additionally, SpaceX is allowing staff to sell around $2 billion (£1.5 billion) worth of stock, while also participating in share buybacks.

'SpaceX has been cash-flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,' Musk stated in an X post on 6th December. 'Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market.'

Meanwhile, SpaceX executives have floated the idea of spinning off Starlink into a separate publicly traded entity. Chief Financial Officer Bret Johnsen mentioned last year that a Starlink IPO could occur 'in the years to come.'

Musk's Net Worth Boosted by Tesla and xAI

Beyond the developments at SpaceX, Musk's stake in Tesla remains a vital factor in his wealth trajectory. In October, Musk disclosed he had purchased an additional 2.5 million Tesla shares, having already held a 13% stake in the company. Over the past six months, Tesla's share price has increased by more than 44%. Analyst Daniel Ives from Wedbush anticipates Tesla's stock could reach $600 (£450) per share.

Furthermore, xAI's plans for a $20 billion (£15 billion) lease-to-own agreement for Nvidia chips, intended for its Colossus 2 data centre in Memphis, also contribute to Musk's rising net worth.

As SpaceX advances its IPO ambitions and its valuation climbs, Musk's overall wealth continues to grow, driven by a mix of technological innovations and strategic investments across his various ventures.

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