<div id="readability-page-1"><div> SpaceX sold approximately 555,6 million shares at an offering price of 135 dollar per share, the company announced. The Elon Musk-founded and controlled company therefore raised 75 billion dollar, setting a new record for the largest IPO by proceeds. The previous record-holder was Saudi Arabian oil giant Aramco, which raised around 29 billion dollar in its 2019 IPO. As planned, SpaceX is now valued at 1,77 trillion dollar, making it one of the ten most valuable publicly traded companies in the world. It is even worth more than Musk’s own electric-car company Tesla. Including employee stock options and restricted stock units, the company’s fully diluted valuation amounts to approximately 1,8 trillion dollar. Shares of Space Exploration Technologies Corp., the company’s official name, are set to begin trading on Friday under the ticker symbol SPCX on both Nasdaq and Nasdaq Texas. The underwriting syndicate was also granted an overallotment option allowing it to purchase an additional 83,3 million shares at the offering price. The bookrunners for the landmark IPO were Goldman Sachs, Morgan Stanley, BofA, Citigroup, J.P. Morgan, Barclays, Deutsche Bank, RBC, UBS and Wells Fargo. Musk Controls 84 Percent Following the IPO, and excluding the overallotment option, Musk controls 84 per cent of the company’s voting rights. He is prohibited from selling his shares until one year after trading begins. The company’s governance structure effectively gives him control over board appointments, meaning that only Musk himself could remove him from his position as chief executive. SpaceX’s lofty valuation cannot be justified by its financial statements alone. Last year, the company reported losses of approximately 4,94 billion dollar on revenue of 18,67 billion dollar. The company’s most important source of revenue is Starlink. The satellite internet service generated revenue of 3,26 billion dollar in the first quarter and now serves around 10,3 million customers across 164 countries. The space industry remains heavily dependent on future growth expectations and ambitious long-term projects, including data centres in space and permanent facilities on the Moon or Mars. According to calculations by Bloomberg, Musk’s personal fortune has increased by around 275 billion dollar as a result of the IPO, bringing his net worth to approximately 970 billion dollar. His stake in SpaceX, including options, would be worth around 688 billion dollar at a share price of 135 dollar. A strong market debut could make him the world’s first trillionaire on the very first day of trading. </div></div>

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Even Meta Is Left Behind: SpaceX Shatters IPO Records