SpaceX, the rocket company founded by Elon Musk, aims to become the world's largest floatation in stock market history with its upcoming US listing. The tech giant aims to make Musk a dollar trillionaire through its shares. The news details SpaceX's ambitious plans for space tourism, asteroid mining, cargo transport to the Moon, and a colony on Mars. The news also highlights the importance of AI in the company's enterprise, stating that Musk aims to redefine industries on Earth while aiming to create new ones on the Moon and beyond.
It's being billed as the biggest – and most anticipated – flotation in stock market history. And it's set to make founder Elon Musk the world's first dollar trillionaire when his Space X venture goes public in the US next month.
Already the world's richest person, Musk this week lifted the lid on his rocket, satellite, and artificial intelligence (AI) enterprise as he seeks to persuade money managers and retail investors to buy new shares in his futuristic firm while he stays in vice-like control. SpaceX would be valued at $1.75trillion, easily eclipsing the previous record for a new listing held by oil giant Saudi Aramco. Musk's vaulting ambitions don't end there.
Documents filed with regulators also reveal ambitious plans for space tourism, asteroid mining, cargo transport to the Moon, and even a colony on Mars with at least one million people. Should you climb on board and invest in what promises to be the investment ride of a lifetime – one that could either reach for the stars or crash and burn?
The details of Musk's extraordinary plans are contained in the SpaceX prospectus, a warts-and-all legal document that spells out the opportunities and risks for potential investors. Significantly, it begins with a quote from Musk himself outlining his messianic vision.
'You want to wake up in the morning and think the future is going to be great – and that's what being a space-faring civilization is all about,' he says. 'It's about believing in the future and thinking that the future will be better than the past. And I can't think of anything more exciting than going out there and being among the stars.
' Elon Musk values SpaceX at $1.75trillion, although others think this should be lower. The filing doesn't yet say how much new money SpaceX wants, when the shares start trading, or at what price the new shares will be valued. These details will be revealed next month but analysts reckon Musk is seeking up to $75billion from outside investors to bankroll his extra-terrestrial dreams – or, as some might say, fantasies.
SpaceX's prospectus contains information about its aim to be worth $28.5trn, the largest '... in human history'. The vast majority of its revenue would come from its AI unit and changes industries on Earth while aiming to create new ones on the Moon, Mars and beyond. SpaceX has taken losses after investing heavily in a sector where it lags market leaders in AI. The tech giant has accumulated more than $41billion in losses
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