SpaceX targets a record $1.77 trillion valuation in its IPO

SpaceX announced Wednesday that it plans to raise $75 billion through an initial public offering (IPO), a deal that would value the company at approximately $1.77 trillion and could make Elon Musk the first person in historyto surpass a $1 trillion fortune. As shown in various documents filed with the U.S. Securities and Exchange Commission (SEC), the aerospace company plans to offer 555.6 million shares at a price of $135 each. Instead of providing a price range for investors, SpaceX opted to set a single target price.

Should it materialize as plannedthe deal would become the largest initial public offering in history, surpassing the $29.4 billion raised by Saudi Aramco in 2019. The announcement comes amid growing investor demand for companies tied to artificial intelligence, a trend that has driven extraordinary valuations across the tech sector. Musk currently owns about half of SpaceX and is expected to retain a similar stake after the public offering.

In the IPO documents, SpaceX highlighted plans that go beyond traditional spaceflight, including projects related to developing artificial intelligence and setting up data centers in space. Company officials indicated that the funds raised through this offering, along with possible future stock sales, will help fund the enormous capital needs associated with both its space operations and AI initiatives.

At the proposed IPO valuation,Musk's stake in SpaceX would be worth approximately $841 billion. That figure would practically equal the combined fortune of several of the world's richest people, including Google co-founders Larry Page and Sergey Brin, as well as software mogul Larry Ellison.

Add in his stake in Tesla, valued at nearly $300 billion based on Wednesday's closing price, and Musk's total net worth could exceed $1.1 trillion. A figure of that size would exceed the combined wealth of several of the wealthiest people on the planet, including Amazon founder Jeff Bezos.