Axios
US · 36 mins ago
✦ 72◉ Centre
SpaceX not the behemoth everyone thought
72Quality
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AI Analysis
Quality 72/100
Partisan intensity 45/100
ObjectivePartisan
◉ Centre ⚠ Misleading headline
SpaceX's IPO prospectus reveals the company's valuation relies heavily on future growth expectations rather than current financial performance, despite expectations it could become the largest IPO ever and make Elon Musk a trillionaire.
SpaceX not the behemoth everyone thought
Elon Musk's SpaceX isn't the financial juggernaut that many were expecting, according to the IPO prospectus it filed yesterday.
The big picture: It's expected to be the largest IPO ever, and could make Elon Musk the world's first trillionaire.
But the prospectus shows just how much the IPO depends on expectations for future growth and investor servility to Musk — as opposed to the current underlying business.
Those expectations will be severely tested if SpaceX really wants to be valued at $1.7
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