Elon Musk’s SpaceX has all the makings of a top-tier publicly listed corporation. Now, private ownership governs the rocket, space exploration technologies, and Starlink satellite manufacturer. However, in preparation for an initial public offering (IPO), which would enable the trading of shares on the stock market, it filed a confidential document with the US Securities and Exchange Commission (SEC) on Wednesday.
After going public, SpaceX is expected to be valued at over $1 trillion (£751 billion). In that case, its eventual debut on the stock market would be among the most financially momentous in history. With his personal stake in SpaceX, billionaire Elon Musk is well on his way to being the first person in history to amass a trillion dollars.
For comment, the BBC has reached out to SpaceX. Bloomberg, Reuters, and the New York Times all reported that the company plans to go public in June.
A corporation can avoid immediately disclosing information to the public while it obtains feedback from the regulator by filing a confidential initial public offering (IPO) with the SEC. Holding roadshows with major investors to persuade them to purchase shares is the next stage for corporate executives.
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