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SpaceX says its worth $1.75tn as it nears stock market debut
Key takeaways
- Setting an estimated price for its stock listing so far in advance is a rare move, and the amount represents a large increase in SpaceX's previous valuation of $1.25tn earlier this year.
- The revelation does not mean its shares will sell for the proposed price, as it will ultimately be decided by buyers.
- SpaceX, which builds space exploration rockets and infrastructure but also owns xAI and Starlink, revealing its estimated share price more than a week before its public debut is unusual.
Kali Hays Technology reporter Reuters Elon Musk is set to become the wealthiest person on earth with Space X stock market debut.Elon Musk's Space X has said it is even more valuable than anticipated as it approaches a public stock listing set for next week.
In an filing with the US Securities and Exchange Commission detailing its plans for an initial public offering (IPO), Space X said its shares should go for $135 (£100) each, ratcheting up its own valuation of the firm to roughly $1.75tn.
Setting an estimated price for its stock listing so far in advance is a rare move, and the amount represents a large increase in SpaceX's previous valuation of $1.25tn earlier this year.
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