SpaceX Plans IPO, Potential to Make Musk World's First Trillionaire

New York. Elon Musk's SpaceX company has announced plans to issue ordinary shares (IPO) in the US stock market. With this, the general public will now be able to buy and sell shares of this company in the stock market.

SpaceX manufactures rockets, provides satellite internet service called Starlink, and Musk's controversial Artificial Intelligence (AI) company xAI is also under its umbrella. This IPO, considered the largest in the history of the US stock market, may start trading next month under the ticker symbol 'SPCEX'.

Due to his ownership in SpaceX, this IPO could make the world's richest person, Musk, the first trillionaire. SpaceX has valued itself at $1.25 trillion, and with majority ownership in the company, Musk's stake alone will be over $600 billion. Musk, who is also the head of electric vehicle manufacturer Tesla, became the world's first person to earn over $500 billion in wealth last year. With SpaceX's listing on the stock market, his total wealth will exceed $1 trillion.

This filing has also brought SpaceX's long-awaited financial status to light. The company, officially known as Space Exploration Technologies, earned $18.6 billion last year but incurred a net loss of $4.9 billion.

Similarly, in the first three months of this year, the company had sales of $4.7 billion but incurred a net loss of $4.3 billion. According to the company's balance sheet, it has assets worth $102 billion, including rockets and other equipment, and liabilities of $60.5 billion.

SpaceX has also indicated that it may incur legal costs exceeding $500 million due to various lawsuits. These include numerous lawsuits claiming that sexual deepfakes of women and girls were created using the chatbot 'Grok' developed by xAI. Musk plans to advance his AI ambitions under SpaceX by dissolving xAI.

Musk's social media platform X (formerly Twitter), which he acquired in 2022, is also owned by SpaceX. According to the IPO filing, SpaceX is also facing other lawsuits related to patent infringement, violation of the European Union's content moderation rules, music copyright infringement, and data theft.