Musk's voting power

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.

Forbes currently values Musk’s net worth at $826 billion and his stake in SpaceX at $542 billion.

The estimated proceeds from the SpaceX IPO would easily top the $26 billion raised by oil giant Saudi Aramco in 2019.

Time will tell how SpaceX fares on the market.

Musk’s plans for the company are as fantastical as the money he hopes raise in the sale.

'Frightening' SpaceX plans

AP reported that colorful, even "frightening” in parts mentioned in the IPO document strike a contrast with the typically dry, technical prose in IPO documents.

It details plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars.

In one section, it talks of a need to build “a permanent human colony” on the Red Planet with “at least one million inhabitants” as existential threats loom that could consign man to “the same fate as the dinosaurs.”

Market debuts

And SpaceX isn’t the only colossal market debut investors are now bracing for.

Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

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