SpaceX is preparing to price its initial public offering later this month at a valuation of about $1.75 trillion, a move that could make Elon Musk the world’s first trillionaire.

Axar.az reports, citing Forbes, the IPO is expected to be priced at around $135 per share. Based on that valuation, Musk’s holdings in the company would rise significantly in value, with analysts estimating his stake and stock options could be worth roughly $688 billion.

Elon Musk owns about 42% of SpaceX’s common stock, along with hundreds of millions of stock options, according to previously filed IPO disclosures. His broader wealth also includes major holdings in Tesla, as well as stakes in Neuralink and The Boring Company.

If SpaceX reaches the reported valuation, Musk’s total net worth would surpass the trillion-dollar threshold, driven primarily by his SpaceX stake alongside existing assets. Analysts also note his additional wealth from Tesla stock and options could further amplify his fortune.

The reported valuation would mark one of the largest public offerings in history and significantly expand Musk’s lead among the world’s richest individuals.