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🇮🇸 Iceland /Economy & Trade

SpaceX Aims to Raise $75 Billion in IPO

From Morgunblaðið · () Icelandic

Translated from Icelandic, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • SpaceX, Elon Musk's rocket and satellite company, plans to raise approximately $75 billion in an initial public offering.
  • The company is valued at $1.765 trillion and aims to sell 555,555,555 shares at $135 each.
  • If successful, SpaceX's IPO would surpass Saudi Aramco's 2019 fundraising record and could make Musk the world's first trillionaire.

SpaceX, the aerospace manufacturer founded by billionaire Elon Musk, is preparing for a massive initial public offering (IPO) that could raise around $75 billion. The company, valued at $1.765 trillion, plans to offer 555,555,555 shares at an initial price of $135 per share.

This potential offering would shatter the fundraising record set by oil giant Saudi Aramco in 2019, which raised $25.6 billion. Experts suggest that if the IPO proceeds as planned, SpaceX could become the world's first trillion-dollar company. This move also comes after SpaceX acquired Musk's artificial intelligence firm xAI in February and follows xAI's takeover of the social media platform X (formerly Twitter) the previous year.

Analysts anticipate further consolidation within Musk's business empire, with predictions that SpaceX might merge with his electric vehicle company, Tesla, by 2027. Tesla's increasing focus on robotics, energy, and autonomous transportation could pave the way for such a merger.

Þetta jafngildir um 9.280 milljörðum króna.

— SpaceXThe company announced its IPO plans.
DistantNews Editorial

Originally published by Morgunblaðið in Icelandic. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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