SpaceX, led by Elon Musk, has announced plans to go public in the US, enabling stock market trading of the company’s shares.In addition to producing rockets and providing Starlink, a satellite internet service, SpaceX also owns Musk’s contentious artificial intelligence (AI) company, xAI.
The largest initial public offering (IPO) in Wall Street history is scheduled to begin on the US stock exchange next month under the ticker symbol SPCX. The IPO may make billionaire Musk, who is currently the richest person in the world, a trillionaire through his shares in SpaceX.
SpaceX is valued at $1.25 trillion, and since Musk owns the bulk of the business, his portion may be worth over $600 billion. Musk, the CEO of electric car manufacturer Tesla, became the first person to reach a net worth of more than $500 billion last year.
This implies that the SpaceX IPO may increase his net worth to more than $1 trillion. The document provides a much-needed glimpse into SpaceX’s financial situation. Space Exploration Technologies, as it is formally called, made $18.6 billion (£13.8 billion) in revenue last year but lost $4.9 billion. Despite generating $4.7 billion in sales in the first three months of this year, it lost $4.3 billion.
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