As billionaire entrepreneur Elon Musk readies to take SpaceX to the public market, investors are awaiting the chance to get in on what is expected to be the biggest IPO on record.
Musk said late last month that reports of the space technology company’s plans to go public this year were “accurate.” Multiple outlets reported that the IPO was in the works following a share sale valuing the firm at around $800 billion.
SpaceX is reportedly looking at a value of around $1.5 trillion when it hits the public market. That would surpass the prior record set by the Saudi Aramco IPO in 2019.
Wall Street heavy hitters have already begun throwing their weight behind SpaceX as private investors. Baron Capital’s Ron Baron said around a quarter of his personal investments are in the company. On top of that, SpaceX is one of the largest positions in the Baron Partners Fund. It’s also the biggest holding in the ARK’s Venture Fund run by Cathie Wood.
