Space Exploration Technologies Corp. (SpaceX) filed for an initial public offering today, aiming to raise $75 billion in what would be the world's largest stock market debut. The rocket company plans to sell 555.6 million shares at $135 each, a sum that would surpass Saudi Aramco's record $26 billion IPO. The offering would value SpaceX at $1.77 trillion, placing it among the top ten most valuable companies globally.
CEO Elon Musk will retain nearly absolute control. His 5.22 billion Class B shares grant 10 votes each, giving him 82.4% of total voting power. Forbes estimates his net worth at $826 billion; the IPO could push it past $1 trillion, making him the first trillionaire.
According to the SEC prospectus, proceeds will fund expanded rocket and AI infrastructure, Starlink Mobile, and the ultimate goal of a “permanent human colony” on Mars with at least one million inhabitants. The document also outlines plans for data centers in low-Earth orbit powered by unlimited solar energy.
Dan Ives of Wedbush Securities calls this “the first major test for public markets after years of muted IPO activity,” suggesting SpaceX may later merge with Tesla to build the colony's infrastructure. Shares are expected to trade on Nasdaq under ticker SPCX by the end of next week.