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.
Justin Fishner-Wolfson’s firm now owns more than 1 percent of SpaceX, worth roughly $20 billion at the company’s expected $1.77 trillion valuation at its listing price.
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.
In the race to dominate the artificial intelligence industry, companies like SpaceX and Alphabet are borrowing cash and raising equity from investors at the fastest pace in decades.
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.
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.
Wall Street is giving its richest clients velvet rope access to this week’s public listing of SpaceX, reflecting the growing importance of the wealth management business.
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