Elon Musk’s SpaceX is poised to become one of the most valuable publicly traded companies in the world.
The firm, which makes rockets, space exploration technology and Starlink satellites, is privately held, but on Wednesday it made a confidential filing with authorities for an initial public offering (IPO), which would allow its shares to be traded on the stock market.
The value of SpaceX is expected to surpass $1tn (£751bn) once it goes public.
Musk’s own holding in SpaceX would put the billionaire on track to become the world’s first trillionaire.
The BBC has contacted SpaceX for comment.
The company is aiming to officially go public sometime in June, according to reports in Bloomberg, Reuters and the New York Times.
A confidential IPO filing with the US Securities and Exchange Commission allows a company to avoid immediately revealing information to the public while it requests feedback from the regulator.
The next step will be for the firm’s executives to hold a “roadshow” – meetings with big investors to convince them to buy shares.
