Elon Musk could become the world’s first trillionaire as his aerospace company, SpaceX, prepares for a major initial public offering (IPO) this month, in what is expected to be the largest stock market debut in history.
The company is reportedly seeking to raise up to $75 billion by selling 555.6 million shares at $135 each, a move that would value SpaceX at approximately $1.77 trillion.
According to an amended prospectus, Musk’s control of the company will remain dominant through his ownership of 5.22 billion Class B shares, each carrying 10 votes. Following the listing, he is expected to retain about 82.4 percent of the company’s voting power.
Forbes currently estimates Musk’s net worth at $826 billion, with his stake in SpaceX valued at around $542 billion. Analysts say a $1.77 trillion valuation could add roughly $223 billion to his fortune, potentially pushing him into trillionaire territory.
Despite the scale of the planned offering, SpaceX continues to operate at a loss. Financial filings show the company recorded an operating loss of $2.6 billion last year on $18.7 billion in revenue, with losses continuing into the current year.
The IPO document outlines Musk’s long-term ambitions for the company, including expanding space infrastructure and advancing human space exploration. It highlights plans tied to returning humans to the moon and eventually establishing a permanent colony on Mars.
The document describes a future “permanent human colony” on Mars, potentially housing at least one million people, which it frames as essential to ensuring humanity’s survival in the face of existential risks.
Meanwhile, investment analyst Dan Ives of Wedbush Securities suggested in a research note that Tesla and SpaceX could potentially merge in the coming year, further fueling market speculation around Musk’s expanding business empire.
SpaceX also plans to use proceeds from the IPO to fund expansion of its artificial intelligence initiatives, rocket development programmes, and its Starlink satellite internet constellation.
The company is expected to list on the Nasdaq under the ticker symbol “SPCX,” with trading potentially beginning as early as next week.