Elon Musk’s SpaceX IPO Could Become Biggest Stock Market Listing in US History

Tech entrepreneur Elon Musk might soon become the first trillionaire in the world. Musk, who happens to be the richest man in the world, is reportedly planning to go public with his space firm SpaceX. It is being said that this could be the largest IPO in US history.

SpaceX, a firm that has remained unlisted for 24 years in the Nasdaq stock exchange, has applied to get listed under the ticker symbol SPCX (NASDAQ: TX). The firm has formally filed its IPO documents with U.S. securities watchdog, the SEC. However, Musk would retain complete control over SpaceX after the IPO. SpaceX could raise between $1.75 trillion and $2 trillion in this IPO. This would be more than the value of India's total stock market. According to the document, the company is generating significant revenue from Starlink's internet service.

If SpaceX is able to generate $75 billion through its IPO process, it will have achieved an amount almost thrice the previous IPO record by Saudi Aramco, which generated $29.4 billion in the year 2019. However, earlier on, in 2014, Alibaba managed to generate $22 billion in the US stock exchange, which was the largest ever.