SpaceX’s IPO Could Make Elon Musk A Trillionaire

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. The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 each in an initial public offering. The offering would give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more. The estimated proceeds from the SpaceX IPO would easily top the $26 billion raised by oil giant Saudi Aramco in 2019.