SpaceX targets biggest ever stock market debut, putting Musk on course to be trillionaire

Key points

• Elon Musk’s SpaceX is looking to raise $75bn (£55bn) from its blockbuster stock market listing next week as the rocket company aims for the largest initial public offering ever.
• If the stock market launch – primed for 12 June – goes as planned, founder Musk, the world’s wealthiest person, could make history as the first trillionaire.
• The rocket, satellite and artificial intelligence company, formally known as Space Exploration Technologies Corp, said in a filing on Wednesday that it would sell 555.6m shares at $135 a piece.
• That would give SpaceX, which is loss-making, a market value of $1.77tn.
• Only six companies in the blue chip S&P 500 stock market index are worth more, with the US semiconductor company Nvidia topping the list at $5.2tn.