SpaceX IPO declared 'biggest stock offer in history' as Elon Musk to become world's first trillionaire

SpaceX is preparing to debut on Wall Street later today in what will be the largest initial public offering (IPO) in stock market history.Elon Musk's tech giant successfully raised 75billion (£55.9billion) through the share sale, with trading expected to commence at 2.30pm British time today.The landmark listing positions the rockets-to-satellites enterprise among the world's biggest publicly traded companies. Perhaps most remarkably, the flotation could result in Musk being crowned the planet's first trillionaire before the day is out.Yesterday evening, SpaceX announced that it had completed the record-shattering IPO, placing a valuation of 1.77 billion on the business.Actual trading may not commence for several hours after admission due to standard US IPO procedures, which typically involve a price discovery auction.SpaceX offloaded precisely 555,555,555 Class A common shares at a price of 135 (£100) apiece to achieve the mammoth fundraising total.LATEST DEVELOPMENTSEconomy alert: GDP contracts by 0.1 as US-Iran squeezes household finances‘I was in debt before I even understood credit’ – The young Britons failed by the education systemElon Musk's SpaceX eyes historic stock market debut which could make him world's first trillionaireThe underwriting banks have secured an additional option to purchase a further 83.3 million shares, which would boost the overall IPO value to approximately 86billion (£64billion).Notably, the share price represents a valuation of 92 times the company's revenues from the previous year, a figure that some analysts consider particularly steep.SpaceX operates across multiple sectors including space transport, satellite communications, data processing and defence applications.The business model centres on launching satellites, cargo and astronauts into orbit while generating steady income through its Starlink communications network.Investor appetite for the offering proved exceptionally strong, with the Financial Times reporting that orders came in at more than triple the number of shares available.Both institutional and retail investors drove this overwhelming demand, which could push the share price higher as unsuccessful applicants seek to acquire stock once trading begins.However, investment research firm Morningstar has sounded a note of caution about the valuation. The group assessed SpaceX's true worth at just 63 per share earlier this week, less than half the IPO price.Morningstar warned of a major disconnect between market expectations and underlying fundamentals. Michael Field, the firm's chief equity strategist, advised potential investors to avoid the IPO and instead await a more attractive entry point down the line.Dan Coatsworth, head of markets at AJ Bell, described the flotation as potentially the biggest stock offer in history. He noted that opening the IPO to ordinary investors forms part of SpaceX's broader ambition to lead the emerging space economy.Significantly, this marks the first occasion that British retail investors have been permitted to participate directly in an American initial public offering. Our Standards: The GB News Editorial Charter