Innovation
SpaceX confirms plans for an IPO
SpaceX confirmed plans to sell shares of its stock to the public for the first time, according to a securities filing Wednesday outlining the company’s fundamentals.
The initial public offering (IPO) could make CEO Elon Musk the world’s first trillionaire, a milestone that underscores the extraordinary wealth the tech industry has amassed over three decades.
SpaceX’s IPO is expected to draw wide investor interest because of the company’s success in rockets and satellite-based internet — two areas where SpaceX has a wide lead over potential competitors. The IPO is expected next month after a marketing period when Musk can try to drum up further interest in the company’s stock.