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  "path": "/money/economy-elon-musk-trillionaire-spacex-stock-market",
  "publishedAt": "2026-05-21T07:55:53.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Economy win as UK-Gulf business deal could boost Britons' wages and GDP by £3.7bn a year",
    "British airline collapses into administration with all jobs lost and flights cancelled",
    "Ftse 100 and pound sterling in the red after shock inflation announcement",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nElon Musk is on track to become the world's first-ever trillionaire as SpaceX prepares for its debut on the stock market.\n\nThe aerospace and satellite firm has officially submitted paperwork for its initial public offering (IPO) with the company to begin trading on Nasdaq under the ticker SPCX on June 12.\n\n###\n\n\n\n\nMarket analysts anticipate the company, formally known as Space Exploration Technologies Corp., could command a valuation ranging from $1trillion (£745billion) to $2trillion (£1.49trillion).\n\nSpaceX is widely known for manufacturing rockets, the satellite internet service Starlink, and Mr Musk's artificial intelligence (AI) firm xAI.\n\n###\n\n\n\n\n###\n\n\n\n\nThis IPO on the US stock market would be the largest in Wall Street history and elevate the South African billionaire's wealth to new levels.\n\nThe rocket and satellite enterprise recorded first-quarter revenues of nearly $5billion (£3.7billion), representing a marked acceleration from previous periods.\n\nStarlink, the company's satellite broadband service, has emerged as the primary growth engine, with approximately 10.3 million subscribers now using the platform.\n\nFor the 2025 calendar year, SpaceX anticipates generating $11.4 billion in total revenue, with its internet connectivity division accounting for the bulk of earnings.\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Economy win as UK-Gulf business deal could boost Britons' wages and GDP by £3.7bn a year\n  * British airline collapses into administration with all jobs lost and flights cancelled\n  * Ftse 100 and pound sterling in the red after shock inflation announcement\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nThe firm's space segment contributed roughly $619million (£461million) to its most recent full-year figures.\n\nSpaceX now positions itself as the dominant provider of satellite-based broadband services globally, according to company filings.\n\nBeyond its current operations, SpaceX has outlined an ambitious strategy to construct a network of orbiting data centres designed to handle artificial intelligence workloads.\n\nThe company's vision hinges on achieving fully reusable rocket technology, which would enable deployment of a vast satellite constellation functioning as computing infrastructure rather than merely providing internet connectivity.\n\n###\n\n\n\n\n###\n\n\n\n\nAccording to company documents, these space-based facilities could potentially process AI tasks on a cost-per-token basis more economically than conventional ground-based server farms.\n\nProceeds from the forthcoming share sale will primarily fund the acquisition of graphics processing units essential to this computing expansion.\n\nDan Coatsworth, the head of markets at AJ Bell, said: \"Investors are itching to snap up SpaceX shares in what could be the biggest stock market debut in history, based on the amount of money raised.\n\n\"SpaceX is set to become the poster child for the modern space economy, and that is the type of narrative that investors love.\"\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Elon Musk to become world's first trillionaire as SpaceX preps stock market debut"
}