BlockBeats news: On June 4, SpaceX announced it will conduct its initial public offering (IPO) this month, planning to issue 5.56 billion shares at $135 per share, raising up to $75 billion in funding and valuing the company at approximately $1.77 trillion—potentially surpassing Saudi Aramco’s 2019 record of $26 billion raised to become the largest IPO in history.
According to the latest prospectus, Musk holds 5.22 billion Class B shares and controls 82.4% of the voting power. Based on the current valuation, his personal wealth could increase by approximately $223 billion, pushing his total net worth past $1 trillion and making him the world’s first trillionaire.
Financial data shows that SpaceX generated $18.7 billion in revenue last year but incurred an operating loss of $2.6 billion. Losses continue to widen at the beginning of this year. The company plans to use IPO proceeds to expand infrastructure for its AI and rocket businesses, as well as to build out the Starlink satellite network.
The prospectus also outlines long-term goals such as establishing a permanent Martian colony with at least one million residents and projects that the potential future revenue from AI businesses could reach $26.5 trillion. Additionally, the market expects Anthropic and OpenAI to follow SpaceX in sparking a new wave of AI giant IPOs.
SpaceX will list on Nasdaq under the ticker symbol 'SPCX', with trading set to begin as early as next week.