SpaceX, led by Elon Musk, has announced an initial public offering (IPO) priced at $135 per share, comprising 555.6 million shares. This move could potentially set a record as the largest IPO in history, with the company aiming to generate $75 billion and achieve an estimated valuation of around $1.77 trillion. If successful, this offering would eclipse the $29.4 billion raised by Saudi Aramco in 2019, establishing new benchmarks for both market valuation and funds acquired.
The company revealed its IPO intentions last month but had yet to provide specifics regarding the share price or valuation targets at that time. Trading for the new shares is slated to commence next Friday.
This IPO could also solidify Musk’s position as the world’s first trillionaire. According to regulatory filings, he owns nearly half of SpaceX and is expected to keep close to half of the shares post-IPO. Due to certain shares possessing enhanced voting rights, Musk will maintain control over 82.4% of the company’s voting power.
At the proposed IPO price, Musk’s stake in SpaceX would amount to around $841 billion. When combined with his nearly $300 billion in Tesla shares, based on the closing price from Wednesday, his total net worth could reach approximately $1.1 trillion, as per estimates reported by CNN.
This figure would surpass the combined fortunes of several prominent billionaires, including Larry Page, Sergey Brin, Larry Ellison, and Jeff Bezos.
The anticipated SpaceX listing is garnering significant attention as it may serve as an indicator for other major tech IPOs. Firms in the artificial intelligence sector, such as Anthropic and OpenAI, are nearing valuations of $1 trillion and are expected to consider going public in the near future.
