News Summary

SpaceX, the space and AI conglomerate founded by Elon Musk, has set its initial public offering (IPO) price at $135 per share, marking the largest IPO in history. This pricing allows the company to raise $75 billion, surpassing the previous record set by Saudi Aramco in 2019. The IPO has attracted immense interest, with retail investors submitting orders exceeding $100 billion, and institutional investors like BlackRock placing significant orders. The company is valued at $1.77 trillion, potentially making Musk the world’s first trillionaire. SpaceX’s IPO strategy deviates from traditional methods, with shares being oversubscribed four times. The IPO will benefit major shareholders, including Musk and board member Luke Nosek, along with numerous venture capitalists and smaller investors via special purpose vehicles. The listing will occur on the Nasdaq under the ticker symbol SPCX.