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Elon Musk announced plans Wednesday for one of the biggest sales of stock to the public ever for his space company that is currently losing billions of dollars year.
According to Associated Press a filing Wednesday shows his SpaceX lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.
Still, the initial public offering is expected to rank among the largest ever, possibly surpassing the current title holder, Saudi Aramco, the oil giant that went public seven years ago.
The stock sale could also make Musk, a major owner who founded SpaceX in 2002, the world’s first trillionaire.
Forbes currently puts his net worth at $839 billion.
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