Elon Musk on track to become world’s first trillionaire today as SpaceX lists on US stock market – business live
Summary
SpaceX is going public on the US stock market after raising $75 billion through its initial public offering (IPO), valuing the company at about $1.77 trillion. This could make Elon Musk the world’s first trillionaire as SpaceX shares begin trading today.Key Facts
- SpaceX raised $75 billion by selling 555,555,555 shares at $135 each in its IPO.
- The company’s valuation is $1.77 trillion, placing it among the largest public companies.
- Banks have the option to buy an additional 83.3 million shares, potentially increasing the IPO size to $86 billion.
- Demand for SpaceX shares was more than three times the available offer.
- Some analysts say the stock price might be too high, valuing SpaceX at 92 times last year’s revenue.
- Morningstar valued SpaceX shares at $63, less than half the IPO price, and advised investors to wait for a better price.
- The listing will cause SpaceX to be added quickly to stock market indexes like Nasdaq-100.
- Separately, Japan launched its H3 rocket to improve its space industry, but it still lags behind SpaceX in launch numbers.
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