• American businessman set to become world’s first trillionaire
Emmanuel Addeh in Abuja
Elon Musk’s SpaceX is set to launch the biggest stock market float in history amid warnings that it may be overvalued, the UK Guardian reported yesterday.
The space exploration, satellite broadband and AI company will join the US stock market on Friday at a valuation of $1.78 trillion, after offering at least $75 billion of shares to investors through an initial public offering.
According to the report, the offering is oversubscribed by three or four times, with more than $250 billion of bids from investors keen to take part in the Initial Public Offer (IPO).
