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The number is one we can't quite wrap our heads around.
Traders at Polymarket are split on whether the SpaceX IPO, likely to be the largest ever, will go above or stay below the $2,000,000,000,000.00 mark.
That number represents $2 trillion.
SpaceX says it plans to raise up to $75 billion when it goes public this month, and this would put Elon Musk on course to becoming the world’s first trillionaire, a word that still pops up for spell check as there just isn't such a thing at the moment. Traders are giving Musk a 93% chance of becoming a trillionaire before year's end.
The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.
Besides the size of the offering and the expected proceeds, SpaceX’s amended prospectus updates details about how much control of the company Musk will have. As SpaceX’s CEO, chief technical officer and chairman, Musk’s voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.
Market Context
This market will resolve to "Yes" if SpaceX's private market valuation, as measured by the NPM Price reported by Nasdaq Private Market, LLC (NPM) for any date between market creation and June 30, 2026, reaches or exceeds the listed amount. Otherwise, this market will resolve to "No".
- Aaron Goldstein, Gambling911.com
