Tesla Inc.(NASDAQ:TSLA) and SpaceX CEO Elon Musk has given an insight into what his proposed trillion-dollar fortune could look like as the commercial space flight giant gears itself up for an IPO this year.
It's Not Like It's Sitting In A Bank
In an interview with entrepreneur Peter Diamandis, Musk shared what a trillion-dollar fortune would mean. "It really just represents percentage ownership in companies that I built," Musk said. He added that net worths are more complex than just money in the bank. "It's not like it's sitting in a bank account," Musk said.
Breaking down what it represented, Musk shared that companies were doing "useful things," which increases the value of the companies. "I own a percentage of those companies, and it sums up to that number, which seems high," the billionaire said.
Elon Musk's Net Worth
The Tesla CEO is currently the richest person on the planet, with his net worth exceeding that of over 693 billionaires across the world, according to the new billionaire's list by Forbes.
Since October last year, Musk has reached the $500 billion, $600 billion, $700 billion and now $800 billion net worth milestones, becoming the first person to do so, ever.
SpaceX IPO
Meanwhile, SpaceX is preparing for a possible IPO this year following the company's acquisition of Musk's artificial intelligence startup xAI. The combined valuation of the entity sits at around $1.25 trillion. Musk had hinted at a $1.75 trillion valuation for the company ahead of the IPO.
Trillion-Dollar Pay Package
Another important factor for the billionaire is Tesla's new pay package for Musk, approved by investors last year in November during the company's annual shareholder meeting.
The package is tied to milestones, which include 1 million Robotaxis and Optimus Humanoid robots each, 10 million active Full Self-Driving (FSD) subscriptions and 20 million vehicle deliveries, among other goals that Musk must achieve with Tesla in order for the awards to kick into effect.
According to Benzinga Edge Rankings, Tesla scores well on the Momentum and Quality metrics. Tesla also offers a favorable price trend in the Long term.
Price Action: TSLA gained 2.15% to $407.82 at market close on Wednesday, but declined 0.74% to $404.81 during the after-hours session.

