SpaceX has taken its first formal step toward a public listing that could become the largest stock offering in history and make Elon Musk the world's first trillionaire. The rocket company filed confidential paperwork with U.S. regulators on Wednesday for an initial public offering, according to multiple reports citing people familiar with the matter. The company aims to debut on public markets as early as June.
SpaceX reportedly seeks to raise between $50 billion and $75 billion through the offering, which would easily surpass Saudi Aramco's $29 billion 2019 listing as the largest IPO ever recorded.
At that fundraising level, the company could command a valuation ranging from $1.5 trillion to $1.75 trillion. A successful listing at that valuation would push Musk's net worth beyond the trillion-dollar threshold for the first time.
The billionaire currently owns approximately 42% of SpaceX and already holds close to $840 billion in wealth through his Tesla stake and other assets. The confidential filing allows SpaceX to submit financial documents to regulators for review before making them public. The company must release a public filing at least 15 days before beginning its investor roadshow.
SpaceX recently merged with Musk's artificial intelligence startup xAI in February, creating a combined entity valued at approximately $1.25 trillion at the time of the deal. The merger added AI capabilities to SpaceX's core rocket and satellite businesses.
If SpaceX reaches public markets at its targeted valuation range, Musk would become the first person to lead two separate trillion-dollar publicly traded companies simultaneously. Tesla currently maintains a market capitalization around $1.4 trillion.
The offering comes as NASA increasingly relies on SpaceX rockets for its launch operations and moon landing missions planned for coming years. The company's Starlink satellite internet service has also grown into one of the world's largest satellite communications networks.
SpaceX plans to host an analyst day on April 21 followed by optional visits to xAI facilities in Tennessee later that week.
