New Delhi, June 12 (IANS). Elon Musk’s space and satellite company Space Exploration Technologies Corp ( Space Have come closer.
According to reports, SpaceX has fixed the price of its shares at $135 per share. The company has raised approximately $75 billion through this IPO, which is being said to be the largest IPO in history, after which the total valuation of the company has become around $1.77 trillion.
SpaceX shares will begin trading on the Nasdaq stock exchange on June 12, listing under the ticker name ‘SPCX’.
After the IPO price is decided, Elon Musk’s wealth is estimated to increase by about $ 275 billion, taking his total wealth to $ 971 billion (according to Bloomberg Billionaires Index).
Based on the IPO valuation, Elon Musk’s stake and stock options in SpaceX are valued at approximately $688 billion.
According to regulatory filings, as of May 1, Musk held 84.94 crore Class-A shares and 557 crore Class-B shares. Including both categories, he holds a total of about 642 crore shares.
Due to SpaceX’s dual share structure, Elon Musk controls approximately 85 percent of the company’s voting power before the IPO is completed.
Under the company’s share structure, Class-B shares have the right to 10 votes, while Class-A shares have the right to only one vote.
Information about the stake of other senior officers and board members of the company is also given in the regulatory documents.
Elon Musk founded SpaceX in the year 2002, and today it is among the most prominent space companies in the world.
The company has earned global recognition through its reusable Falcon-9 and Falcon Heavy rockets, Dragon spacecraft and Starship launch programs.
SpaceX has also expanded rapidly through its satellite internet business Starlink, which has bolstered the company’s earnings and global reach.
–IANS
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