SpaceX says it plans to raise up to $75 billion (€66bn) in its long-awaited stock market debut, a move that would make it the largest initial public offering (IPO) on record and significantly boost the wealth of founder Elon Musk, potentially making him the world's first trillionaire.
The company, formally known as Space Exploration Technologies Corp., said on Wednesday that it plans to sell 555.6 million shares at $135 each. The offering would surpass the $26bn (€23bn) raised by Saudi Aramco in 2019 and value SpaceX at approximately $1.77 trillion (€1.56tr).
Such a valuation would place SpaceX among the world's most valuable listed companies. Only a handful of firms are currently worth more, including Nvidia, whose market capitalisation stands at around $5.2tr (€4.6tr).
Musk's control remains
The IPO would also increase the value of Musk's stake in the company by an estimated $223bn (€196bn), according to Forbes calculations. That could push his net worth above the $1 trillion (€880bn) mark on paper, though much of his wealth remains tied to company stock.
