Elon Musk’s SpaceX eyes $1.77tn valuation ahead of historic IPO

Key Points:

• SpaceX plans to raise approximately $75 billion in its IPO by selling 555.6 million shares at $135 each, targeting a valuation of nearly $1.77 trillion, which would make it the world's seventh-largest company by market capitalization.
• Elon Musk, holding about 42% of SpaceX shares, is expected to become the world's first trillionaire after the IPO, while retaining effective control with over 82% of voting rights due to a dual-class stock structure.
• The IPO is notable for SpaceX setting a fixed share price before its investor roadshow, reflecting Musk's strong control and confidence in the deal's success.
• Despite its high valuation, SpaceX is not yet profitable, having reported significant net losses in recent years, with investor interest driven by the company's ambitious vision for space exploration and technology expansion.
• SpaceX's IPO is the first of three major expected public offerings this year, alongside AI startups OpenAI and Anthropic, potentially adding trillions of dollars to the US stock market amid the ongoing AI boom.