Elon Musk floats SpaceX IPO to coincide with birthday, planetary alignment: report | Latest Tech News
Elon Musk reportedly desires to time SpaceX’s seemingly record-setting initial public offering to coincide with a uncommon planetary alignment and his own birthday in June.
The world’s richest man has floated going public in mid-June – when Jupiter and Venus will likely be in “conjunction” for the first time in three years, the Financial Times reported, citing people acquainted with the matter.
It’s also close to when the billionaire will rejoice his fifty fifth birthday on June 28.
SpaceX – the non-public aerospace company that has large rocket contracts with NASA and gives the Starlink satellite tv for pc web service – is aiming to raise up to $50 billion at a $1.5 billion valuation, according to the FT.
Elon Musk’s SpaceX is aiming to raise up to $50 billion at a $1.5 billion valuation, according to the FT. REUTERS
That can be the most important IPO in historical past by money raised, beating Saudi Aramco’s $29 billion go-public deal in 2019.
The timing and the scale of the IPO have been fluid and may change, sources told the FT.
Musk is thought for including quirky touches to his big-dollar business dealings. In 2018, he infamously tweeted plans to take Tesla public at $420 per share, a reference to marijuana.
In 2022, he appeared to make another 420 reference when he provided to buy the company then identified as Twitter for $54.20 per share, or $44 billion.
Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley are all anticipated to take lead roles in SpaceX’s IPO, according to a number of reviews.
Other banks may also be tapped to take part.
A SpaceX Falcon Heavy rocket carrying a National Oceanic and Atmospheric Administration’s (NOAA) satellite tv for pc lifts off from NASA’s Kennedy Space Center in Florida on June 25, 2024. AFP via Getty Images
SpaceX’s chief financial officer Bret Johnsen confirmed to staff in December that SpaceX may go public at some level in 2026, though he burdened that the precise timing of a deal and whether or not it will occur at all remained “highly uncertain.”
Johnsen has also been holding talks with SpaceX’s present non-public buyers since December, with an eye to holding a mid-year IPO, according to the FT.
The money infusion may fund some of Musk’s most far-fetched pet initiatives, like establishing colonies on the Moon and Mars.
He also desires to launch data facilities for artificial intelligence in space.
The Post has reached out to SpaceX for remark.
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