The potentially record-breaking IPO will, among other effects, likely create a fresh cohort of wealthy individuals at SpaceX who have equity in the business.

The rocket maker SpaceX has filed publicly what is being billed as the largest-ever initial public offering, an event that could produce the world’s largest liquidity event of the kind that wealth managers will closely track. 

Yesterday, SpaceX filed its IPO with the Securities and Exchange Commission. 

One feature of the share float is that Elon Musk, the rocket company’s founder, would keep a super-voting share allowing him to control the business.

The float could mint a large number of multi-millionaires. A report by Bloomberg this week said that in the Brownsville area of Texas, home to the space enterprise giant, it could create millionaires among some of the firm's 3,000 employees.

There is speculation over how to value SpaceX’s shares in light of financial disclosures that seem minuscule by comparison. SpaceX had a net loss of $4.28 billion on revenue of $4.69 billion for the first quarter, widening from a net loss of $528 million on revenue of about $4 billion a year earlier, the filing shows.

The listing is reportedly targeted to raise as much as $75 billion.

Other prominent IPOs of recent years include Saudi Aramco (2019); Alibaba, Agricultural Bank of China, Meta Platforms, Bank of China, Uber Technologies, Life Insurance Corp of India, Rivian Automotive, NTT Mobile, and Porsche (source: Wall Street Journal). The world’s largest firm by market cap is Nvidia, which floated on the stock market in 1999.