‘We do not want humans to have the same fate as dinosaurs’: SpaceX IPO reads like Hollywood fantasy version of the future
Elon Musk has announced plans for a significant stock sale for SpaceX, despite the company currently facing substantial financial losses. The IPO aims to raise around $75 billion to fund ambitious projects, including establishing a human colony on Mars. The prospectus highlights Musk's potential to become the world's first trillionaire if the company meets its market cap goals.
- ▪SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue.
- ▪The company aims to raise approximately $75 billion through its IPO.
- ▪Musk's compensation is tied to achieving a permanent human colony on Mars with at least one million inhabitants.
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Elon Musk announced plans Wednesday for one of the biggest stock sales ever by taking public a space company that is currently losing billions of dollars a year.Recommended Video A filing shows that his SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. The prospectus did not put a dollar figure on the amount Musk hopes to raise, but various reports have put it at $75 billion or so. An offering of that size would easily surpass the current title holder, Saudi Aramco, the oil giant that went public seven years ago and raised $26 billion.
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