Musk reportedly plans $ 1.5 trillion IPO for SpaceX. Here’s what that means
Story by Chris Isidore, Jackie Wattles, CNN
Elon Musk, already the world’s richest man, could soon be much richer. Bloomberg reports he’s planning one of the largest initial public offerings in history for SpaceX.
Musk’s space company plans to raise $30 billion next year, Bloomberg reported, and an IPO could value the company at up to $1.5 trillion. SpaceX did not respond to a request for comment on the report.
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The money raised would go to the company, not to Musk. But given that he reportedly owns nearly half the company’s shares, it would significantly increase his net worth.
A publicly-traded SpaceX means Musk could more easily borrow against the value of his stake in the company, as he has with his Tesla holdings. That frees up tax-free cash for his various endeavors.
According to Bloomberg’s Billionaire Tracker, Musk currently has a net worth of $461 billion with most of that due to his Tesla shares and options. If SpaceX is worth $1.5 trillion, that net worth could more than double, according to Bloomberg.
Musk reportedly plans massive IPO for SpaceX. Here’s what that means |
