What Happened
Elon Musk-Led Company Targets Trillion Dollar Valuation
SpaceX, led by Elon Musk, is reportedly preparing for an initial public offering that could become the largest stock market debut in history. The company is targeting a valuation of about $1.7 trillion and could raise more than $80 billion, surpassing Saudi Aramco’s 2019 IPO. SpaceX has built its business around commercial launches, Starlink satellite internet, and government space contracts, generating about $16 billion in revenue last year. The IPO’s success may influence expectations for other private companies, according to Yahoo Finance.