"SpaceX's IPO, internally code-named Project Apex, aims to raise as much as $75 billion at a valuation of up to $1.75 trillion, more than doubling Saudi Aramco's record."
"Musk's stake in SpaceX, approximately 42 percent, would be worth over $730 billion at a $1.75 trillion valuation, pushing his total wealth past the trillion-dollar mark."
"The merger of Musk's xAI with SpaceX raised questions about governance and valuation, folding a company burning $1 billion a month into one generating substantial cash flow."
"SpaceX now operates as a conglomerate, encompassing orbital launches, satellite internet, defense contracts, artificial intelligence, and social media, all under Musk's control."
SpaceX has filed for an IPO, aiming to raise up to $75 billion at a valuation of $1.75 trillion, surpassing Saudi Aramco's record. The offering, known as Project Apex, could occur as early as June. Musk's stake in SpaceX would significantly increase his wealth, potentially making him the first trillionaire. The company has expanded beyond rockets, incorporating Musk's xAI and social media platform X, creating a conglomerate involved in various sectors including AI and defense.
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