Elon Musk’s rocket company said it would sell more than 555 million shares at $135 each in its blockbuster initial public offering, which is set to begin trading on Friday.
Investors who bought the automaker’s shares in its initial public offering became rich. As a result, many have a deep faith in Elon Musk, the chief executive of Tesla and SpaceX.
The billionaire philanthropist testified on Wednesday in a closed-door congressional hearing about the Justice Department’s investigation of Jeffrey Epstein.
Antonio Gracias, left, and Elon Musk at a political event in Green Bay, Wis., last spring. Mr. Gracias and his private equity firm control a $65 billion stake in SpaceX.
While Elon Musk may soon become a trillionaire, his rocket company’s market debut is set to the change the lives of its current and former employees, too.
Elon Musk’s potential new status as a trillionaire demonstrates in real time why there has been such a rapid rise in the concentration of wealth at the top.
Wall Street is giving its richest clients velvet rope access to this week’s public listing of SpaceX, reflecting the growing importance of the wealth management business.
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