Elon Musk’s rocket company, SpaceX, is aiming for a valuation of nearly $1.77 trillion in what could become the largest initial public offering (IPO) in history.
In a filing with the US Securities and Exchange Commission (SEC), SpaceX announced plans to sell 555.6 million shares at $135 each, raising about $75 billion.
The proposed valuation would make SpaceX the world’s seventh-largest publicly traded company, surpassing Tesla and Meta, while trailing only a handful of global giants, including TSMC.
The listing would also surpass the record set by Saudi Aramco, whose 2019 IPO raised $26 billion at a valuation of $1.7 trillion.
Musk, who owns about 42% of SpaceX, could become the world’s first trillionaire following the offering, which is expected to begin trading on the Nasdaq on June 12.
Despite going public, Musk will maintain effective control of the company through a dual-class share structure that grants certain shares 10 voting rights each, giving him more than 82% of total voting power.
Analysts noted that SpaceX’s decision to set a fixed share price before its investor roadshow is unusual, as companies typically announce a price range that can be adjusted based on investor demand.
