SpaceX's initial public offering (IPO) successfully raised $75 billion (~RM 304 billion), making it the largest IPO in world history. It far surpassed the IPOs of Saudi Aramco ($29.4), Alibaba Group ($25 billion), SoftBank Corp $23.5 billion (2018) and General Motors ($20.1 billion).
SpaceX set the IPO price at $135 per share with 555.56 million shares offered. This gives SpaceX a market value of $1.77 trillion (~RM 7.18 trillion) based on 13.08 billion shares outstanding, making it the 8th most valuable company in the world today. It is worth more than Saudi Aramco, Tesla, Meta, Samsung, Micron and SK Hynix.
As previously reported, although the shares are now offered to the public, Elon Musk holds 82% of the voting power after the IPO. At the time of writing, Musk’s personal fortune is now close to $800 billion, putting him well ahead of the pack with his dream of becoming the first trillionaire looming.
Despite SpaceX’s IPO being the largest in history, there are still concerns about its long-term future. Last year it posted a loss with its biggest revenue coming from Starlink, which has just 12 million subscribers. SpaceX’s xAI data center, X social media and aerospace businesses have all yet to generate significant profits.
SpaceX is currently labeled an artificial intelligence (AI) company rather than an aerospace company. Its next long-term plan is to build an AI data center in space using a network of satellites launched aboard the Starship V3.
