SpaceX files for IPO that could make Elon Musk a trillionaire
Summary
SpaceX, Elon Musk’s company that builds rockets and runs the Starlink internet service, plans to sell shares to the public on the US stock market soon. This first sale of shares, called an IPO, could make Musk a trillionaire because of how many shares he owns.Key Facts
- SpaceX will launch an initial public offering (IPO) to sell shares to investors on the US stock market.
- The IPO is expected to be the largest ever on Wall Street.
- SpaceX builds rockets and provides Starlink, a satellite-based internet service.
- SpaceX also owns Musk’s artificial intelligence company, xAI.
- The IPO could start as soon as next month and will use the ticker symbol SPCX.
- Elon Musk is currently the richest person in the world.
- Musk’s ownership in SpaceX could make him a trillionaire after the IPO.
- The IPO allows the public to own part of SpaceX by buying shares.
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