Huo Xing Cai Jing reports that, on June 9, Forbes stated that SpaceX plans to go public on June 12 with an estimated valuation of $1.8 trillion and is expected to raise approximately $75 billion. Although the company has relocated its headquarters to Texas, a large number of its employees continue to work and reside in the Los Angeles area of California. The wealth gains generated by these California-based employees following the IPO may trigger California’s “millionaire tax,” generating substantial tax revenue for the state, while Texas, which does not impose a personal income tax, will not benefit accordingly. SpaceX currently has over 22,000 employees worldwide, including approximately 7,661 engineering and related staff in the Los Angeles area. Analysts believe this IPO could become an unexpected windfall for California’s treasury.
SpaceX Plans $75 Billion IPO, Could Boost California Tax Revenue
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Summary
SpaceX is set to launch an IPO on June 12 with a valuation of $1.8 trillion, aiming to raise $75 billion. Despite relocating its headquarters to Texas, many employees remain in Los Angeles, California. Wealth gains from the IPO could trigger California’s millionaire tax, boosting state revenue. Texas, with no personal income tax, would see no benefit. On-chain data shows SpaceX employs over 22,000 globally, including 7,661 in the LA area. Altcoins to watch may react to broader market shifts from such a major listing.
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