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SpaceX Aims for Historic $75 Billion IPO, Potentially Making Musk a Trillionaire

KVIA••CNN Newsource
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Elon Musk's SpaceX has announced plans for an unprecedented initial public offering (IPO) aiming to raise $75 billion, which would value the company at approximately $1.77 trillion. The IPO, set to begin trading next Friday, involves the sale of 555.6 million shares at $135 each. This offering would surpass the previous record held by Saudi Aramco and is a significant indicator of the growing commercialization of space travel and advancements in artificial intelligence. Musk, who owns half of SpaceX, will retain substantial control post-IPO, holding 82.4% of the voting power. The funds raised will support SpaceX's ambitious projects in space exploration and AI development.

Key Details: • IPO trading starts next Friday. • Shares priced at $135 each, totaling 555.6 million shares. • Musk retains 82.4% voting power after the IPO. • Proceeds will fund space and AI initiatives.

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