Elon Musk’s rocket company said it would sell more than 555 million shares at $135 each in its blockbuster initial public offering, which is set to begin trading on Friday.
Elon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.
SpaceX has set an initial public offering price of $135 a share, which would value it at $1.77 trillion. Some investors are skeptical that the valuation is justified.
Investors who bought the automaker’s shares in its initial public offering became rich. As a result, many have a deep faith in Elon Musk, the chief executive of Tesla and SpaceX.
Antonio Gracias, left, and Elon Musk at a political event in Green Bay, Wis., last spring. Mr. Gracias and his private equity firm control a $65 billion stake in SpaceX.
While Elon Musk may soon become a trillionaire, his rocket company’s market debut is set to the change the lives of its current and former employees, too.
NASA’s next mission in its effort to return humans to the moon will be led by an all-male crew. Three of them have extensive experience in space, while the other was a backup on Artemis II.
The crew of Artemis III, from left: Commander Randy Bresnik; pilot Luca Parmitano of the European Space Agency; mission specialist Frank Rubio; and mission specialist Andre Douglas.
An artist’s concept released by Blue Origin of its large, crew-carrying Mark 2 moon lander. Neither Blue Origin nor SpaceX, contracted by NASA, have completed development of a lunar lander.
Brendan Carr, the chairman of the Federal Communications Commission, has greenlighted regulatory requests for the company’s Starlink satellite internet service and lavished praise on its chief executive.
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