SpaceX, the space and satellite company led by billionaire Elon Musk, is planning a massive initial public offering (IPO) that could become make Musk the world’s first trillionaire.
According to a regulatory filing released on Wednesday, June 3, SpaceX aims to raise around USD 75 billion through the proposed IPO.
Expected valuation of SpaceX
The offering would value the company at approximately USD 1.765 trillion.
As per the filing, SpaceX plans to sell 555,555,555 shares at an initial price of USD 135 per share.
Once completed, the fundraising would surpass the previous IPO record set by Saudi Aramco. In its 2019 public listing, the Saudi company raised USD 25.6 billion.
Offering could boost Elon Musk’s wealth
The proposed offering could significantly boost Elon Musk’s wealth. Already regarded as the world’s richest person, Musk could become the first individual in history to achieve trillionaire status.
In the recent year, SpaceX has also expanded its operations. In February, the company absorbed Musk’s artificial intelligence venture, xAI. The development came a year after xAI acquired the social media platform X, formerly known as Twitter.
