Elon Musk’s space company has submitted initial papers to sell shares to the general public. This is a tremendous offer, which will probably prove to be the biggest offer ever and can make its founder the world’s first trillionaire.
According to PTI report, SpaceX’s IPO promises to be one of the biggest events on Wall Street this year. Several investment banks are lining up to help raise billions of dollars to fulfill Musk’s ambitions. These ambitions include building a base on the Moon, placing a data center in orbit the size of several football fields and perhaps one day sending humans to Mars. The agency said it received the news from sources who spoke on condition of anonymity because they were not authorized to speak publicly about this confidential registration with the Securities and Exchange Commission.
How much will the IPO cost?
The exact amount of money SpaceX is planning to raise has not been disclosed, but according to reports this figure could be up to $75 billion. The offering, which will probably take place in June, could value all of SpaceX’s shares at up to $1.5 trillion, according to research firm Pitchbook. This is almost double the company’s valuation in December, when some small shareholders sold their stake.
In addition to building reusable rockets to send astronauts and equipment into orbit, SpaceX also owns Starlink, the world’s largest satellite communications company. The company has also recently purchased two other businesses of Musk. In which the first is social media platform X and the second is Artificial Intelligence business, xAI.
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