Fresh from his online mauling at the hands of Ryanair’s Michael O’Leary, the world’s richest man can take some consolation. Elon Musk’s SpaceX is reportedly “lining up” four Wall Street banks to advise on “a record-breaking IPO”, and it could make the rocket group – already the world’s most valuable startup – the biggest flotation in history, valued as highly as $1.5 trillion, said the FT.
No final decision has been taken, but the float may come as soon as this year. SpaceX’s soaring valuation has been driven by its “cemented” status as the leading US developer of commercial rockets for space exploration – and its Starlink satellite service. Markets were already anticipating a feast of “US mega listings”, with two big beasts of generative AI – OpenAI and Anthropic – also plotting potential floats.
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