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.The offering will also further cement founder Elon Musk’s control over the company. According to the filing, SpaceX will maintain a dual-class share structure, and following the IPO, he is expected to control about 82.4% of the company’s voting power.
The IPO would place SpaceX among the most valuable publicly traded companies in the world. At a projected market capitalization of $1.77 trillion, only a handful of companies in the S&P 500 command higher valuations, led by Nvidia at roughly $5.2 trillion.
The public offering could also significantly boost Musk’s already record-setting fortune. Forbes estimates his net worth at about $826 billion, including a SpaceX stake valued at roughly $542 billion. A successful IPO at the proposed valuation would likely increase the value of that holding substantially, boosting his net worth into the trillions.
