SpaceX Shares Available at $135 Each
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SpaceX, the rocket manufacturing and space transportation company owned by the world’s richest person Elon Musk, is preparing for its final steps toward a stock market listing. The information was disclosed in a company filing released on Wednesday local time.
Through its long-anticipated IPO, SpaceX aims to raise around $75 billion. If successful, this could become the largest initial public offering in history.
If all goes as planned, SpaceX is expected to make its stock market debut next week. A successful listing could also position founder Elon Musk to become the world’s first trillionaire.
Formally known as Space Exploration Technologies Corp., the company stated on Wednesday that it plans to sell a total of 556 million shares at a price of $135 per share.
Through this IPO, SpaceX’s total market valuation is expected to reach $1.77 trillion. Currently, only six companies in the U.S. stock market’s S&P 500 index have a higher market value than this. At the top is the technology company Nvidia, valued at $5.2 trillion.
Elon Musk is also the CEO of the electric vehicle manufacturer Tesla. In this IPO, he is not selling any of his shares in SpaceX. He will retain 82.4% voting rights or decision-making control in the company.
According to Forbes’ estimates, Musk’s current total net worth stands at $825 billion, of which his stake in SpaceX alone is valued at $542 billion.
Source: BBC
