world-economy

SpaceX Gears Up for Record-Breaking Public Offering

SpaceX has filed regulatory paperwork for what could become the largest initial public offering in history, with the space-launch company expected to proceed with the offering in mid-June. The company has not disclosed its target fundraising amount, though previous reports indicate SpaceX could raise approximately $80 billion. That would far exceed the $29 billion Saudi Aramco raised in its 2019 IPO, previously the largest on record. The offering could value SpaceX at over $1 trillion, potentially making it more valuable than Tesla. CEO Elon Musk, who maintains controlling interest in the company, stands to significantly increase his wealth. The valuation would establish SpaceX as one of the world's most valuable companies and could set off a blockbuster year for Wall Street.