Elon Musk’s SpaceX to go public: Here’s everything you need to know
SpaceX is moving toward a June 11 Initial Public Offering (IPO) that could reshape how investors value infrastructure, aerospace, and artificial intelligence.
Musk’s SpaceX recently merged with his artificial intelligence firm and aims to raise up to $75 billion with a valuation of $1.75 trillion, which could break the record set by Saudi Aramco when it raised $29 billion with a $1.7 trillion valuation in 2019.
Sources cited by Reuters say SpaceX might announce its IPO filing as soon as Wednesday, June 1, with a roadshow kicking off June 4. SpaceX will start trading on the Nasdaq under the ticker symbol “SPCX” starting June 12.
In the previous year, SpaceX was responsible for over 80 percent of all rocket launches globally. The Starlink unit controls over 10,000 satellites in outer space, offering Internet services from space to firms, armed forces, and remote locations around the world.
SpaceX alone launches over 90% of all Western cargoes into space. This monopoly was likened by an investor to having the sole undersea cable linking the UK to Europe.
At the same time as SpaceX’s announcement of its initial public offering, there are reports of SpaceX seeking a corporate governance framework that will allow Elon Musk complete freedom as CEO. According to Reuters, Musk alone can fire himself as CEO, a stipulation likely to deter institutional investors.
At $1.75 trillion, SpaceX’s implied valuation exceeds every publicly traded aerospace and defence company combined.
