This image taken from NASA video shows the SpaceX capsule carrying NASA astronauts Suni Williams, Butch Wilmore and Nick Hague, and Russian astronaut Alexander Gorbunov, undocking from the International Space Station on Tuesday, March 18, 2025. (NASA via AP)
This image taken from NASA video shows the SpaceX capsule carrying NASA astronauts Suni Williams, Butch Wilmore and Nick Hague, and Russian astronaut Alexander Gorbunov, undocking from the International Space Station on Tuesday, March 18, 2025. (NASA via AP)
If Elon Musk’s SpaceX decides to build a facility in Vermilion Parish, he could have a large amount of cash to do it.
SpaceX is hitting the public stock market today in a blockbuster move that is set to dump a whole lot of money on a whole lot of people, particularly founder and CEO Elon Musk, who could become the world’s first trillionaire.
During its initial public offering on Thursday, SpaceX sold 556 million shares at an initial price of $135 a share, which was the biggest IPO in history, to raise $75 billion, multiple outlets are reporting.
The company’s president and CEO were on Wall Street this morning to ring the bell to open Nasdaq’s Stock Market. Musk also rang a bell from Texas.
The prospectus for the SpaceX stock debut shows spending at a massive scale — greater than the economic output of some countries — and about to grow much larger as Musk races to make good on his promise to hurl people to distant planets, the Associated Press reported.
Money to be raised in the initial public offering will help finance those futuristic, fantastical plans.
Earlier this year sources confirmed an aerospace company was in negotiations to buy a large amount of land in southern Vermilion Parish. Sources familiar with the situation indicated SpaceX is the company in question.
State lawmakers passed a package of bills to give aerospace companies generous tax breaks and expansive protections against lawsuits.
Email Adam Daigle at adaigle@theadvocate.com.
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