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NEW YORK — Elon Musk’s ambitious space venture is gearing up for a monumental move by submitting initial documents to launch an initial public offering (IPO), as revealed by two insiders with knowledge of the filing. This groundbreaking IPO could potentially become the largest in history, propelling Musk toward the unprecedented status of being the world’s first trillionaire.
The anticipated SpaceX IPO is set to be one of the most significant events on Wall Street this year. A consortium of major investment banks is preparing to facilitate the raising of tens of billions of dollars. This capital injection aims to advance Musk’s visionary plans, which include establishing a lunar base, deploying vast orbital datacenters, and possibly paving the way for human expeditions to Mars.
The individuals providing this information requested anonymity due to the private nature of the documents filed with the Securities and Exchange Commission.
At this time, SpaceX has not issued a response to inquiries seeking comment on the matter.
While the precise amount SpaceX intends to secure remains undisclosed, reports suggest the target could reach a staggering $75 billion. Such a sum would significantly surpass the $29 billion raised by Saudi Aramco in its 2019 IPO, setting a new benchmark in the financial world.
The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.
Musk owns 42% of SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion-dollar mark because he is already close, with a net worth estimated by Forbes magazine at $823 million.
In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.
SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump’s campaign and is still a big backer.
In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.
Among current SpaceX owners is Donald Trump Jr, the president’s oldest son. He owns shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.
The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family’s businesses.
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