Elon Musk’s SpaceX reportedly plans a $75 billion IPO in June, potentially the largest ever, to fund its ambitious Mars and space launch projects.
NEW YORK: SpaceX is preparing to file for an initial public offering that could raise a record $75 billion as early as June. The company, founded by tech billionaire Elon Musk, aims to secure funds for its extraterrestrial ambitions, including developing a spacecraft for Mars.
Citing a person with knowledge of the plan, tech news site The Information reported the IPO prospectus would be filed with regulators this week or next. The planned offering far exceeds recent analyst expectations of $30 billion to $50 billion.
If successful, it would blow past the current largest public offering on record. Oil group Saudi Aramco raised $25.6 billion in its 2019 debut.
SpaceX was valued at $1.25 trillion in early February following its merger with Musk’s artificial intelligence unit, xAI. The company dominates the space launch market with its reusable rockets.
Ownership is held by Musk alongside several investment funds and tech companies, including Google’s parent Alphabet. Analysts note that going public will require SpaceX to maintain greater transparency about its revenues.
It could also increase pressure on the company to deliver profits. SpaceX did not immediately respond to a request for comment on the report.
