Elon Musk’s rocket company SpaceX has secretly filed to go public in what is expected to be the largest initial public offering in history.
The Texas-headquartered company filed paperwork this week with the Securities and Exchange Commission for a listing, according to two people familiar with the matter.
Confidential filings allow companies to pursue their listing plans without publicly disclosing their financial position. SpaceX last month bought Musk’s loss-making AI startup xAI for $250 billion.
SpaceX was trying to raise about $75 billion and was aiming for a valuation of about $1.75 trillion, according to people familiar with the matter. In the US, only Nvidia, Apple, Alphabet, Microsoft and Amazon have a higher market capitalization. Recently SpaceX was valued at around $90 billion by 2022.
SpaceX did not immediately respond to a request for comment.
The IPO, which will dwarf the $29 billion raised by oil major Saudi Aramco in 2019, is expected to come sometime in June, possibly on Musk’s order following a rare planetary alignment and coinciding with the billionaire’s 55th birthday.
<a href