What To Watch For
To meet massive demand for its IPO, SpaceX could potentially issue additional shares or raise its offering price. The company is scheduled to go public on June 12 under the ticker symbol “SPCX.”
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Forbes Valuation
We estimate Elon Musk’s net worth at $792.8 billion as of Tuesday, making him the world’s wealthiest person. Musk will further cement that distinction with SpaceX’s IPO, which could very well make him the first trillionaire in history. Musk owns 42% of SpaceX’s common stock.
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Key Background
The SpaceX IPO will come months after the aerospace firm acquired artificial intelligence startup, xAI, which also incorporates the X social media platform, bringing three of Musk’s companies under a singular banner. The merged company is looking to become a leader in the AI compute space by putting AI data centers in space, which SpaceX has claimed could handle extremely intensive AI workloads at greater efficiency than infrastructure on Earth’s surface. It expects to deploy AI compute satellites as early as 2028, according to a Securities and Exchange Commission filing. SpaceX generated $18.7 billion in revenue last year but continued to be unprofitable, posting $4.9 billion in losses.
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Further Reading
SpaceX Targets $75 Billion For IPO—Valuing Company Above $1.75 Trillion (Forbes)