SpaceX discusses $5B Saudi PIF investment ahead of $75B IPO
Business
SpaceX, Elon Musk's rocket company, is talking with Saudi Arabia's Public Investment Fund (PIF) about a $5 billion investment.
This move would help PIF keep its small but notable stake in SpaceX as the company prepares for an IPO that could raise a jaw-dropping $75 billion, easily topping records set by giants like Saudi Aramco and Alibaba.
SpaceX lining up investors for IPO
SpaceX has quietly prepared for an IPO and hopes to hit the market later this year.
The company is lining up big-name investors to boost confidence, with a significant portion of the allocation likely going to institutions and wealthy individuals through banks.
If all goes as planned, this could be one of the biggest public offerings ever, and give SpaceX even more fuel.