The Largest IPO in History, Musk Poised to Become the World's First Trillionaire

On June 4, SpaceX announced it will launch its highly-anticipated initial public offering (IPO) later this month. The aerospace and space company plans to issue 5.56 billion shares at $135 each, targeting a maximum fundraising of $750 billion. This values SpaceX at roughly $1.77 trillion—surpassing the $26 billion IPO record set by Saudi Aramco in 2019, making it poised to become the largest IPO in history. Per the latest prospectus, Elon Musk holds 5.22 billion Class B shares and retains 82.4% of SpaceX’s voting rights. At the current valuation, his personal wealth is projected to rise by about $223 billion, pushing his net worth above $1 trillion, making him the world’s first "trillionaire." Financial data shows SpaceX generated $18.7 billion in revenue last year, but posted an operating loss of $2.6 billion. These losses have continued to widen since the start of this year. The company plans to use IPO proceeds to expand its AI and rocket business infrastructure, as well as fund the construction of its Starlink satellite network. The prospectus also outlines long-term goals: establishing a permanent Mars settlement with at least 1 million residents, and forecasting potential future AI business revenue of $26.5 trillion. Additionally, the market anticipates that AI giants Anthropic and OpenAI will follow SpaceX’s lead, sparking a new wave of major AI company listings. SpaceX will debut on the Nasdaq under the stock ticker "SPCX," with trading expected to begin as early as next week.