SpaceX and xAI expected to soar in value and make Elon Musk the world’s first trillionaire
12/02/2024 // Zoey Sky // 350 Views
 
Elon-Musk-Global-Conference.jpg
Clean-Chlorella-1lb-200mg-Tablets-MR.jpg
Elon Musk, currently the richest person in the world, could soon become the world's first trillionaire by the end of the decade as two of his private companies soar in value.

 

Tesla, his public company, has recently surpassed a trillion dollars in market capitalization. (Related: Analysis predicts Elon Musk could become the world's first TRILLIONAIRE by 2027.)

 

Amid his vocal support for President-elect Donald Trump, two of Musk’s private companies are now set to secure multibillion-dollar jumps in valuation through new deals. At the same time, investors rush to support the varied business interests of the world's richest man.

 

SpaceX, which is currently the largest private space company in the United States, is gearing up for the launch of a tender offer in December that will sell existing shares in the business at about $135 each, shared people with inside information about the discussions.

 

This means Musk's rocket builder would be valued at more than $250 billion, up from about $210 billion during a similar deal earlier in 2024.

 

On the other hand, xAI, Musk's artificial intelligence start-up, has raised $5 billion at a valuation of $45 billion, a figure that is almost double its valuation from only several months ago, added the insiders. The fundraising was carried out quickly, and discussions between Musk and his investors began last month.

 

The double fundraising follows as the tech billionaire expands his focus beyond Silicon Valley to Washington D.C., especially after helping Trump secure the election and becoming a key confidant to the latter.

 

Trump recently appointed the Tesla CEO and biotech entrepreneur Vivek Ramaswamy to co-lead the soon-to-be-established Department of Government Efficiency, which will function as an advisory commission and will provide advice and guidance from outside of government.

 

Musk's ties to Trump boost Tesla's shares

Musk's close ties to Trump have also helped boost the share price of Tesla, the electric vehicle maker that he runs as chief executive, by almost 30 percent since the Nov. 5 elections.

 

The people close to the xAI fundraising have revealed that the deal had been "fully allocated," or that all of the new shares had been assigned to investors. However, it will not formally close until the end of November.

 

The insiders have also claimed that the deal was oversubscribed and only included the investors who had backed the start-up in its previous fundraising round.

 

The growing interest in xAI, which operates Grok, a ChatGPT rival, has also spurred the billionaire's efforts to compete with other rivals like Anthropic and OpenAI.

 

The move has also resulted in speculation about subsequent fundraising in the first quarter of 2025 that could value xAI at as much as $75 billion, reported two of the people.

 

But it remains to be seen if this had been communicated directly to investors by xAI.

 

Musk's startup has been developing a large cluster of 100,000 graphics processing units, the chips used to train and run AI tools, in Memphis.

 

The project, dubbed Colossus, would be one of the biggest supercomputers in the world. Musk's AI systems could soon play a huge role across his several enterprises, which include Neuralink, SpaceX, Tesla and X.

 

It's possible that SpaceX would also benefit from Musk's ties to Trump.

 

Aside from his future goal to launch a mission to Mars, the billionaire wants to add to the company's network of 6,000 low Earth orbit satellites that make up the Starlink broadband network.

 

Visit ElonMuskWatch.com for more stories about Musk and his businesses.

 

Watch this clip about how billionaire Elon Musk has saved America and the West from totalitarianism.

E-mail me when people leave their comments –

You need to be a member of Ashtar Command - Spiritual Community to add comments!

Join Ashtar Command - Spiritual Community

Comments

  • Hello! Making someone even richer is nothing to be proud of in my opinion.
This reply was deleted.

Blog Topics by Tags

  • - (955)

Monthly Archives

Latest Activity

AlternateEarth left a comment on Comment Wall
"That , apparently, was an Olympic grade shot
Many years at the shooting range
I don't think he went to military sniper school"
2 hours ago
Drekx Omega left a comment on Comment Wall
"🇬🇧🇺🇸👏🏻Trump preparing for his UK visit....Arriving shortly..full state visit....Keep the security high....WELCOME POTUS.....

Ω"
3 hours ago
AlternateEarth commented on AlternateEarth's blog post Late Summer Nature Pics
"Thanks Movella-no new vid cam yet-Drexk, I was thinking that yesterday-a vid cam on my bike helmet for autumn, but drone cameras are awesome.
Any suggestions for a vid cam? Not too pricey. I would like to get better res while filming the Tau Ceti…"
4 hours ago
Movella left a comment on Comment Wall
"This could likely be due to manipulation from a psyops team that the suspect underwent.. It seems like he was already mentally unstable and vulnerable/insane and therefore an easy target, sometimes these teams even use hypnosis.."
5 hours ago
AlternateEarth left a comment on Comment Wall
"-Yeah-something is rotten-but why incriminate himself, supposedly admitting to his father and pastor that he did it? Gov Cox says the suspect is not cooperating, not confessing."
5 hours ago
Malcolm posted a blog post
Photo above from Fox News. A basic conclusion is at the end for the uninitiated. This blog does require a knowledge of Uranian Astrology to understand the descriptions placed on the 90 degree dial. Analysis of the Ascendant ("the environment and…
5 hours ago
Drekx Omega left a comment on Comment Wall
"Ahhh..!! The investigation of the Kirk murder is finding several anomalies surrounding the patsy "sniper," and his strange inconsistencies, with the scewdriver left at the sniper nest, with his fingerprints. The rifle, if disassembled, and in the…"
5 hours ago
rev.joshua skirvin posted a blog post
 “This message to all Leaders of integrity and the people of Earth. Time to Rise.”I want to begin with deep condolences to Charlie Kirk’s family, friends and fans. My friends and family are deeply affected by the tragedy.  After two near death…
6 hours ago
More…