SpaceX sets $75 billion IPO target as Musk on track to become first trillionaire
SpaceX is preparing for a historic IPO, targeting $75 billion to value the company at approximately $1.77 trillion. The offering will allow Elon Musk to maintain significant control over the company, holding about 82.4% of the voting power post-IPO. Despite recent operating losses, investor confidence remains high due to SpaceX's leading position in commercial launches and its growing Starlink satellite internet business.
- ▪SpaceX plans to raise approximately $75 billion in its initial public offering.
- ▪The IPO would value the company at roughly $1.77 trillion, surpassing Saudi Aramco's previous record.
- ▪Elon Musk is expected to control about 82.4% of the company's voting power after the IPO.
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SpaceX is preparing for the largest stock market debut in history, announcing Wednesday that it planned to raise approximately $75 billion in an initial public offering that would value the company at roughly $1.77 trillion. The space and satellite giant plans to sell 555.6 million shares at an expected price of $135 per share, according to a filing with the Securities and Exchange Commission. If completed as planned, the offering would eclipse the record-setting $26 billion IPO of Saudi Aramco in 2019 and instantly rank among the largest public offerings ever. Recommended Stories Amazon beats out Walmart for No.
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