SpaceX plans to raise up to $75 billion in an IPO that would be the largest ever and could make Elon Musk a trillionaire

By — Bernard Condon, Associated Press Bernard Condon, Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/spacex-plans-to-raise-up-to-75-billion-in-an-ipo-that-would-be-the-largest-ever-and-could-make-elon-musk-a-trillionaire Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter SpaceX plans to raise up to $75 billion in an IPO that would be the largest ever and could make Elon Musk a trillionaire Economy Jun 3, 2026 5:47 PM EDT NEW YORK (AP) — 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. READ MORE: SpaceX launches its biggest Starship mega rocket yet on test flight The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece. The offering would 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. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's 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. Grow your mind Subscribe to our Science Newsletter to explore the wide worlds of science, health and technology. Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated proceeds from the SpaceX IPO would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale. READ MORE: SpaceX reveals plans for what could be the biggest-ever initial public offering Colorful, even frightening in parts, 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 "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs." And SpaceX isn't 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. OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected. Report Matt O'Brien contributed. A free press is a cornerstone of a healthy democracy. Support trusted