SpaceX says its worth $1.75tn as it nears stock market debut

SpaceX says its worth $1.75tn as it nears stock market debut Just now Share Save Add as preferred on Google Kali Hays Technology reporter Reuters Elon Musk is set to become the wealthiest person on earth with SpaceX stock market debut. Elon Musk's SpaceX has said it is even more valuable than anticipated as it approaches a public stock listing set for next week. In an filing with the US Securities and Exchange Commission detailing its plans for an initial public offering (IPO), SpaceX said its shares should go for $135 (£100) each, ratcheting up its own valuation of the firm to roughly $1.75tn. Setting an estimated price for its stock listing so far in advance is a rare move, and the amount represents a large increase in SpaceX's previous valuation of $1.25tn earlier this year. The revelation does not mean its shares will sell for the proposed price, as it will ultimately be decided by buyers. The price could go up or down. SpaceX, which builds space exploration rockets and infrastructure but also owns xAI and Starlink , revealing its estimated share price more than a week before its public debut is unusual. Companies typically only share an estimated sell price the day before they begin trading on the open market. SpaceX is expected to start trading on the Nasdaq stock index on 12 June, making its price estimate one of, if not the earliest price estimates, in stock market history. The company is aiming to raise $75bn, the most ever for an IPO. Should the company's shares sell at or above the expected $135 price, it will immediately become one of the most valuable companies in the world. And Musk, who controls more than 80% of SpaceX with his own stock holdings in the firm, could become a trillionaire. However, such an outcome is not certain. According to data from Dealogic, which conducts research on the capital markets, almost half of companies that have gone public in the last 30 years have seen their value decrease compared to when they listed. "There is no doubt the valuation is incredibly rich," Samuel Kerr, head of equity capital markets research at Mergermarket, said. He noted that SpaceX was pricing itself compared to its sales at a ratio that is higher than any other major company included in what investors refer to as the "Mag 7" - Alphabet, Amazon, Apple, Meta, Nvidia, Microsoft and Tesla, another of Musk's companies. "But SpaceX is being valued on future earnings and revenue rather than the here and now, so some investors might be willing to overlook that," Kerr added. Last year, Space Exploration Technologies - as SpaceX is officially known - brought in $18.6bn (£13.8bn) in revenue but had a net loss $4.9bn. In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn. Its balance sheet shows it has $102bn in assets, such as rockets and other equipment, but also carries $60.5bn of debt. But Ruth Foxe-Blader, managing partner at US venture capital firm Citrine Venture Partners, previously said tha