{"id":131757,"date":"2026-06-03T16:14:55","date_gmt":"2026-06-03T22:14:55","guid":{"rendered":"https:\/\/dh.durangoherald.com\/tj\/spacexs-ipo-is-set-to-be-the-biggest-ever-and-could-make-elon-musk-a-trillionaire\/"},"modified":"2026-06-03T17:06:19","modified_gmt":"2026-06-03T23:06:19","slug":"spacexs-ipo-is-set-to-be-the-biggest-ever-and-could-make-elon-musk-a-trillionaire","status":"publish","type":"post","link":"https:\/\/dh.durangoherald.com\/tj\/spacexs-ipo-is-set-to-be-the-biggest-ever-and-could-make-elon-musk-a-trillionaire\/","title":{"rendered":"SpaceX’s IPO is set to be the biggest ever and could make Elon Musk a trillionaire"},"content":{"rendered":"

\"FILE
FILE – A Falcon 9 SpaceX heavy rocket lifts off from pad 39A at the Kennedy Space Center in Cape Canaveral, Fla., Tuesday, Feb. 6, 2018. (AP Photo\/John Raoux, File)<\/span>(AP Photo\/John Raoux, File)<\/span><\/figcaption><\/figure>\n

NEW YORK (AP) \u2014 SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world’s first trillionaire.<\/p>\n

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.<\/p>\n

Besides the size of the offering and the expected proceeds, SpaceX\u2019s amended prospectus updates details about how much control of the company Musk will have. As SpaceX\u2019s CEO, chief technical officer and chairman, Musk\u2019s voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.<\/p>\n

Forbes currently values Musk’s net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk\u2019s net worth by $223 billion, making him a trillionaire. However, much of Musk’s worth is in stock that he has yet to cash in.<\/p>\n

Time will tell how SpaceX fares on the market. Musk\u2019s plans for the company are as fantastical as the money he hopes raise in the sale.<\/p>\n

Colorful, even frightening in parts<\/a>, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build \u201ca permanent human colony\u201d on the red planet with \u201cat least one million inhabitants\u201d as existential threats loom that could consign man to \u201cthe same fate as the dinosaurs.\u201d<\/p>\n

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.<\/p>\n

Key to the success of both companies \u2014 and any merged entity \u2014 is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition \u2014 putting data centers in space, which is not technologically possible at the moment.<\/p>\n

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.<\/p>\n

Its main AI product, the chatbot Grok, is \u201cless impressive than anything that we see from any other major player in the space, whether that\u2019s OpenAI, or Anthropic, or (Google\u2019s) Gemini,\u201d said IDC analyst Arnal Dayaratna.<\/p>\n

Dayaratna said that doesn\u2019t mean SpaceX doesn\u2019t have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk\u2019s recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor\u2019s capabilities would give SpaceX access to the coveted business customers now using Anthropic\u2019s Claude or OpenAI\u2019s ChatGPT.<\/p>\n

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.<\/p>\n

The company plans to list on the Nasdaq under the symbol \u201cSPCX\u201d and could begin trading as soon as the end of next week.<\/p>\n

And SpaceX isn\u2019t the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock<\/a>.<\/p>\n

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.<\/p>\n

\u201cThis listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after,\u201d Ives wrote.<\/p>\n

___<\/p>\n

AP Technology Writer Matt O\u2019Brien contributed.<\/p>\n

\"FILE
FILE – Tesla vehicles line a parking lot at the company's Fremont, Calif., factory on Aug. 5, 2025. (AP Photo\/Noah Berger, File)<\/span>(AP Photo\/Noah Berger, File)<\/span><\/figcaption><\/figure>\n
\"FILE
FILE – Elon Musk attends the finals for the NCAA wrestling championship, March 22, 2025, in Philadelphia. (AP Photo\/Matt Rourke, File)<\/span>(AP Photo\/Matt Rourke, File)<\/span><\/figcaption><\/figure>\n
\"FILE
FILE – Tesla vehicles are displayed at the AutoMobility LA Auto Show, Thursday, Nov. 21, 2024, in Los Angeles. (AP Photo\/Damian Dovarganes, File)<\/span>(AP Photo\/Damian Dovarganes, File)<\/span><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

– A Falcon 9 SpaceX heavy rocket lifts off from pad 39A at the Kennedy Space Center in Cape Canaveral, Fla., Tuesday, Feb. 6, 2018. (AP Photo\/John Raoux, File)(AP Photo\/John Raoux, File) NEW YORK (AP) \u2014 SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the […]<\/p>\n","protected":false},"author":1,"featured_media":131758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5734],"tags":[],"naviga_topic":[],"class_list":["post-131757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-associated-press"],"acf":[],"author_name":"dh_admin","_links":{"self":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/131757","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/comments?post=131757"}],"version-history":[{"count":1,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/131757\/revisions"}],"predecessor-version":[{"id":131761,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/posts\/131757\/revisions\/131761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media\/131758"}],"wp:attachment":[{"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/media?parent=131757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/categories?post=131757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/tags?post=131757"},{"taxonomy":"naviga_topic","embeddable":true,"href":"https:\/\/dh.durangoherald.com\/tj\/wp-json\/wp\/v2\/naviga_topic?post=131757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}