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The largest IPO in history, Elon Musk is expected to become the world's first trillionaire

MeNews
ME News Report, June 4th (UTC+8), SpaceX announced it will conduct its first public offering (IPO) this month, planning to issue 556 million shares at $135 per share, raising up to $75 billion, with a valuation of approximately $1.77 trillion, potentially surpassing Saudi Aramco's 2019 record of $26 billion in fundraising to become the largest IPO in history. According to the latest prospectus, Elon Musk owns 5.22 billion Class B shares and holds 82.4% of the voting rights. Based on the current valuation, his personal wealth is expected to increase by about $223 billion, surpassing $1 trillion in total net worth, making him the world's first "trillionaire." Financial data shows that SpaceX's revenue last year was $18.7 billion, but operational losses reached $2.6 billion. Losses have continued to grow earlier this year. The company plans to use the IPO proceeds for infrastructure expansion in AI and rocket businesses, as well as Starlink satellite network development. The prospectus also proposes long-term goals such as building a permanent colony on Mars with at least 1 million residents, and estimates that future AI business potential revenue could reach $26.5 trillion. Additionally, the market expects Anthropic and OpenAI to follow SpaceX in launching a new wave of AI giants going public. SpaceX will list under the stock ticker "SPCX" on NASDAQ, with trading expected to begin as early as next week. (Source: BlockBeats)
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