Elon Musk’s SpaceX has unveiled plans to raise $75 billion in an initial public offering that would value the company at about $1.77 trillion, setting the stage for what could be the largest IPO in history.
The company plans to sell 555.6 million shares at $135 apiece, according to a filing with the US Securities and Exchange Commission on Tuesday.
The planned offering would exceed the previous record set by Saudi Aramco, which raised $29.4 billion in its 2019 public listing.
Musk, who owns about half of SpaceX, is expected to retain nearly half of the company’s shares after the offering. Due to special voting shares, he would control 82.4% of the company’s voting power, the filing showed.
The IPO could sharply increase Musk’s personal wealth, with his SpaceX stake valued at around $841 billion if shares trade at the planned offer price. Combined with his Tesla holdings, his net worth could exceed $1 trillion.
SpaceX, founded in 2002, has grown from a rocket launch company into a broader space, satellite internet and artificial intelligence business.
The company expanded into telecommunications through Starlink, its satellite-based internet service, and recently combined operations with xAI, Musk’s artificial intelligence company.
The IPO documents also point to SpaceX’s plans for artificial intelligence and space-based data centers, alongside its long-term goals in space exploration, including missions to the Moon and Mars.
SpaceX said proceeds from the offering would help fund large capital expenditure needs across its space and AI operations.
The company is expected to begin trading next Friday, according to the filing.
The planned listing comes amid strong investor demand for companies linked to artificial intelligence, despite continued questions over profitability in parts of the sector.
Other major AI firms, including Anthropic and OpenAI, are also expected to pursue public listings, potentially creating a new wave of wealth across the technology sector.
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