SpaceX, officially known as Space Exploration Technologies Corp., has announced intentions to go public this month, aiming to raise a record $75 billion. This event marks the largest stock market debut in history and could make Elon Musk the world’s first trillionaire. The company plans to offer 555.6 million shares at $135 each, achieving a market valuation of $1.77 trillion—an impressive figure, with only six S&P 500 companies currently surpassing it. Nvidia leads at $5.2 trillion.

SpaceX’s updated prospectus highlights Musk’s control over the company. As CEO, chief technical officer, and chairman, Musk will possess substantial voting power through his ownership of 5.22 billion Class B shares, which provide 10 votes per share. This ownership grants him 82.4% of the company’s voting power. Forbes estimates Musk’s current net worth at $826 billion, with his SpaceX stake valued at $542 billion.

The anticipated proceeds from the IPO would surpass the $26 billion raised by Saudi Aramco in 2019, marking a significant milestone. SpaceX’s IPO document showcases ambitious plans, including lunar missions and establishing a human colony on Mars. The prospectus describes these plans with dramatic language, emphasizing the potential existential threats to humanity akin to those faced by dinosaurs.

Beyond SpaceX, the market is witnessing other significant IPOs. Anthropic has submitted a confidential filing to the U.S. Securities and Exchange Commission, signaling the start of its IPO process. Meanwhile, anticipation surrounds OpenAI’s potential IPO, despite no formal SEC paperwork yet reported.

These developments are set against the backdrop of SpaceX’s bold ambitions, reflecting the vibrant and aggressive nature of Musk’s leadership.

Reporter Matt O’Brien contributed to this article.