SpaceX has said it is seeking to raise as much as $86bn at a valuation of $1.78tn, as Elon Musk’s space and AI conglomerate prepares for the world’s biggest initial public offering.
The company plans to sell 555.6mn shares at $135 apiece, raising $75bn, according to an amended IPO filing on Wednesday. The fundraising could rise to $86bn if underwriters exercise a so-called “greenshoe” option to sell additional shares — giving the group a market value of $1.78tn.
The IPO will cement Musk’s control of two of America’s most valuable companies, SpaceX and electric-car maker Tesla, a position without modern precedent. His special class of SpaceX shares will give him control of 82 per cent of the voting power at the rocket group.