SpaceX files for IPO that could make Elon Musk a trillionaire

An important development from the financial markets: SpaceX files for IPO that could make Elon Musk a trillionaireJust now Share Save Add as preferred on GoogleLily JamaliNorth America Technology Correspondent, San FranciscoGetty ImagesElon Musk's SpaceX has revealed its plans to go public in the US, allowing people to trade shares in the firm on the stock market. SpaceX makes rockets, offers a satellite internet service called Starlink, and also owns Musk's controversial artificial intelligence (AI) firm xAI.

The initial public offering (IPO) on the US stock market is set to be the largest in Wall Street history and could start next month under the ticker symbol SPCX. Because of the shares he will own in SpaceX, the IPO could make billionaire Musk, who is already the world's richest person, a trillionaire.

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Financial markets are tracking the development closely as investors assess the likely impact.