Finance

SpaceX has confidentially filed preliminary paperwork with the Securities and Exchange Commission for an initial public offering that could value the company at $1.5 trillion and potentially make Elon Musk the world's first trillionaire.

The space exploration company plans to raise as much as $75 billion in the offering, which could occur as early as June. At that level, the IPO would easily surpass Saudi Aramco's $29 billion offering in 2019 as the largest public debut in history.

The proposed valuation represents nearly double SpaceX's December assessment when minority stakeholders sold their positions, according to research firm Pitchbook. Musk currently owns 42% of SpaceX, though this percentage will shift when new shares are issued to public investors.