SpaceX, formally known as Space Exploration Technologies Corp., is set to make history with its upcoming initial public offering (IPO). The company plans to raise up to $75 billion, marking what could be the largest stock market debut in history. This ambitious move positions SpaceX with a market value of $1.77 trillion, placing it among the top companies in the S&P 500, only trailing behind giants like Nvidia, which leads with a market value of $5.2 trillion.

Elon Musk’s Stake and Voting Power

Elon Musk, the visionary behind SpaceX, is not selling any of his shares in this offering. He will retain 82.4% of the voting power in the company, ensuring his continued influence over its strategic direction. Forbes currently estimates Musk’s net worth at $825 billion, with his stake in SpaceX valued at $542 billion. The success of this IPO could potentially make Musk the world’s first trillionaire, further solidifying his status as a leading figure in the tech and space industries.

Record-Breaking IPO

The anticipated proceeds from SpaceX’s IPO are set to surpass the previous record held by Saudi Aramco, which raised $26 billion in 2019. This monumental financial event underscores the growing interest and investment in space exploration and technology. As SpaceX continues to push the boundaries of space travel and innovation, its public offering is a significant milestone not only for the company but also for the broader industry.

Original reporting: Texarkana Gazette — read the source article.