SpaceX files initial paperwork to sell shares to the public and likely make Musk a trillionaire

Key Points:

• Elon Musk’s SpaceX has filed preliminary paperwork for an initial public offering (IPO), potentially raising up to $75 billion and valuing the company at $1.5 trillion, which would be the largest IPO in history.
• The IPO could make Musk the world’s first trillionaire, as he currently owns 42% of SpaceX and has a net worth estimated at $823 billion by Forbes.
• SpaceX, known for its reusable rockets and Starlink satellite internet service, recently acquired Musk’s other businesses, X (formerly Twitter) and xAI, in a controversial deal due to Musk’s control over both buyer and seller.
• The company has received significant U.S. government contracts worth $6 billion over the past five years, raising concerns about conflicts of interest linked to Musk’s political donations and connections.
• Among SpaceX shareholders is Donald Trump Jr., through 1789 Capital, a venture firm that invests in federal contractors, though official statements deny any conflicts of interest involving the Trump family.