American business mogul Elon Musk has announced plans for SpaceX to raise about $75 billion through an initial public offering, a move aimed at boosting the company’s valuation and positioning it as one of the biggest stock market debuts in history.

According to filings with the U.S. Securities and Exchange Commission, the company plans to sell 555.6 million shares at $135 each.

Mr Musk is expected to own about half of SpaceX after the IPO is completed. However, he will retain control of over 80% of the company’s voting rights.

His combined stake in SpaceX could be worth around $841 billion. When added to his Tesla holdings, estimated at nearly $300 billion, his total wealth could rise above $1 trillion, placing him far ahead of other global billionaires.

If completed, the IPO would be the largest in history, surpassing Saudi Aramco’s $29.4 billion listing.

The company’s decision to use a single fixed pricing structure has also drawn attention, reflecting strong investor interest in the tech and artificial intelligence space.

SpaceX is a multi-sector company founded in 2002 by Elon Musk to advance space travel.

It entered the broadband market in 2021 with Starlink, its satellite internet service. Earlier this year, it also merged with xAI, Mr Musk’s artificial intelligence venture linked to his social media platform X.