SpaceX files for IPO that could make Elon Musk a trillionaire
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Elon Musk's SpaceX has revealed its plans to go public in the US, allowing people to trade shares in the firm on the stock market.
Key facts
Last year, Space Exploration Technologies
as it's officially known
brought in $18.6bn (£13.8bn) in revenue but had a net loss $4.9bn
SpaceX values itself at $1.25tn, and Musk's majority ownership of the company means his share could be worth more than $600bn
In the first three months of this year, it achieved $4.7bn in sales but made a net loss of $4.3bn
Meanwhile, its balance sheet shows it has $102bn in assets, such as rockets and other equipment, but also carries $60.5bn of debt
Summary
SpaceX makes rockets, offers a satellite internet service called Starlink, and also owns Musk's controversial artificial intelligence (AI) firm xAI. The initial public offering (IPO) on the US stock market is set to be the largest in Wall Street history and could start next month under the ticker symbol SPCX. Because of the shares he will own in SpaceX, the IPO could make billionaire Musk, who is already the world's richest person, a trillionaire. SpaceX values itself at $1.25tn, and Musk's majority ownership of the company means his share could be worth more than $600bn.