Space Exploration Technologies Corp. announced Wednesday its intention to go public this month with a stock offering that could reach $75 billion, potentially creating the largest initial public offering in market history and positioning CEO Elon Musk to become the planet’s first trillionaire.
The rocket manufacturer will offer 555.6 million shares priced at $135 each, according to company filings. This public debut would establish a company valuation of $1.77 trillion, placing it among an elite group of corporations. Currently, only six businesses in the S&P 500 exceed this worth, with Nvidia leading at $5.2 trillion.
Beyond the massive scale and anticipated revenue, the company’s updated filing reveals details about Musk’s control structure. Serving as CEO, chief technical officer and chairman, Musk will maintain authority primarily through his 5.22 billion Class B shares, which provide 10 voting rights per share. This arrangement grants Musk 82.4% of the company’s voting control.
Financial publication Forbes currently estimates Musk’s total wealth at $826 billion, with his SpaceX holdings valued at $542 billion.
The projected earnings from this stock market launch would significantly surpass the previous record holder, oil company Saudi Aramco, which raised $26 billion in 2019.
Market performance remains uncertain, though Musk’s vision for the company matches the extraordinary fundraising goals.
The IPO documentation presents an unusually vivid narrative compared to standard offering materials, outlining ambitious plans to use sale proceeds for lunar missions and potential Mars exploration. One portion describes establishing “a permanent human colony” on Mars housing “at least one million inhabitants” to protect humanity from extinction events that could result in “the same fate as the dinosaurs.”
SpaceX isn’t alone in preparing major market entries. Artificial intelligence company Anthropic filed confidential paperwork with the U.S. Securities and Exchange Commission earlier this week to begin its own IPO process.
While OpenAI hasn’t yet submitted initial SEC documentation, industry observers widely anticipate a public offering from the ChatGPT developer.
