The world's richest person Elon Musk's tech empire SpaceX has officially filed to launch shares on the American stock market (IPO), which will become the largest share offering in Wall Street history.
This move, which will begin next month with the ticker symbol SPCX, could value the company at up to $1.25 trillion USD. This would push Elon Musk's personal wealth beyond $1 trillion USD ($1 billion), making him the first "trillionaire" in world history.
Along with preparations for this share offering, SpaceX's actual financial statements have been disclosed for the first time, revealing that the company recorded losses of $4.9 billion last year, and an additional $4.3 billion in losses in the first three months of this year.
However, business experts view this not as an unusual loss for businesses with major future prospects like Starlink satellite internet and rocket operations, but rather as showing promising potential.
Notably, Elon Musk's xAI tech company, which recently came under SpaceX, was also able to secure a major contract with rival Anthropic company to use data centers for $15 billion per year.
Despite these positive prospects, Elon Musk is facing serious legal challenges on the other hand.
He is facing lawsuits for creating deepfakes of women's bodies using xAI's Grok Chatbot, copyright infringement, and non-compliance with EU regulations, among other cases that could cost hundreds of millions of dollars.
Additionally, Elon Musk lost the case against OpenAI Chief Sam Altman, and criticism continues to escalate due to weaknesses in workplace employee safety measures.
Ref: bbc
