SpaceX aims to raise around $75 billion through its upcoming stock market debut, which would mark the largest initial public offering in history. If the listing proceeds as scheduled next week, founder Elon Musk, currently the world’s richest individual, could become the first trillionaire. The company, officially Space Exploration Technologies Corp, filed documents on Wednesday indicating plans to sell 555.6 million shares priced at $135 each. This would value the loss-making firm at $1.77 trillion. Only six companies in the S&P 500 index exceed this valuation, led by Nvidia at $5.2 trillion. Musk will not sell shares in the offering and would keep 82.4 percent of voting control. His net worth stands at $825 billion, including a $542 billion stake in SpaceX, according to Forbes. He also heads Tesla and the social media platform X. SpaceX’s size would give it significant weight in the S&P 500, exposing many investors and pension holders to its performance. The firm filed confidentially in April. Established in 2002, it supports Musk’s goal of a self-sustaining settlement on Mars and has secured major aerospace contracts, including most NASA launches. SpaceX has entered the AI sector by acquiring xAI to develop solar-powered infrastructure for growing energy needs. Competitors Anthropic and OpenAI are also pursuing public listings. Alphabet raised $80 billion this week for AI infrastructure. The recent wave of IPOs and fundraising aims to secure capital for data centers supporting AI growth. A roadshow begins today, with bankers presenting to investors. JP Morgan Chase chief Jamie Dimon plans discussions with high-net-worth clients, joined by asset management head Mary Callahan Erdoes and SpaceX executives Gwynne Shotwell and Bret Johnsen. The listing offers substantial fees for involved banks, including Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America, and Citigroup. Associated Press contributed to this report.
