SpaceX plans one of the largest stock sales ever by taking the company public. A filing shows SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, with losses continuing into the start of this year. The prospectus does not state a target amount, but reports estimate about $75 billion, which would surpass Saudi Aramco’s $26 billion IPO. The raised funds are intended to support projects to put people on the moon and Mars. The filing links compensation to maintaining a permanent human colony on Mars with at least one million inhabitants. SpaceX’s cash flow is supported by Starlink, which generated $4.4 billion in operating income last year, while other units face uncertainty.
"A filing shows that his SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. The prospectus did not put a dollar figure on the amount Musk hopes to raise, but various reports have put it at $75 billion or so. An offering of that size would easily surpass the current title holder, Saudi Aramco, the oil giant that went public seven years ago and raised $26 billion."
"SpaceX, formally known as Space Exploration Technologies Corp., has said the money will help finance projects to put people on the moon and Mars in its quest to make humans an intergalactic species as they face existential threats that could wipe out civilization. "We do not want humans to have the same fate as dinosaurs," the filing states. The prospectus reads in part like a Hollywood fantasy version of the future, detailing in one section how part of Musk's compensation will be granted only if he maintains "a permanent human colony on Mars with at least one million inhabitants.""
"The document shows that Starlink, the world's largest satellite communications company, is a big source of cash for the company, generating $4.4 billion in operating income last year. The business uses 10,000 satellites in low orbit to provide internet service to 10 million people in 150 countries and territories. Among the struggling businesses are two Musk units that were recently acquired by SpaceX - his social media"
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