Musk has tightened his grip on the company: he bought $1.4 billion worth of SpaceX shares
21 April 13:18
Billionaire Elon Musk has purchased $1.4 billion worth of SpaceX shares, thereby strengthening his control over the company, according to The Information, as reported by "Komersant Ukrainian".
The space company recently filed a confidential IPO application with the U.S. Securities and Exchange Commission (SEC), with plans to go public in 2026. The structure of the deal and the exact number of shares to be offered to retail investors are expected to be determined closer to the listing date.
As a reminder, SpaceX has raised its IPO valuation target to more than $2 trillion.
With a market capitalization of over $2 trillion, SpaceX’s value would increase by nearly two-thirds in a matter of months. Furthermore, it would be larger than all but five companies in the S&P 500 index—Nvidia Corp., Apple Inc., Alphabet Inc., Microsoft Corp., and Amazon.com Inc. By this measure, it would be larger than Meta Platforms Inc. and Musk’s own company, Tesla Inc., the other two companies in the so-called “Marvelous Seven”
SpaceX has filed a confidential application for an IPO, which could take place in June. The listing would make SpaceX the first of a potential trio of mega-IPOs, followed by OpenAI and Anthropic PBC, whose chatbots compete with Grok, developed by SpaceX subsidiary xAI.
According to Bloomberg News, SpaceX’s stock offering could raise up to $75 billion. At that scale, it would eclipse the largest IPO in history—Saudi Aramco’s $29 billion debut in 2019. The company plans to use these funds to finance Musk’s project to build artificial intelligence data centers in space and a factory on the Moon.
The billionaire’s ambitious plans will require unprecedented amounts of capital and resources spanning several companies under his control.
According to sources familiar with the situation, SpaceX has selected Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley to serve as lead underwriters for the IPO, and has added several other banks to the list of potential partners.
