comments Elon Musk’s rocket firm Space X is closing in on a record £1 trillion stock market listing. The Tesla billionaire’s company is set to file for an initial public offering in the US within the next two weeks, and could go public as soon as June in a listing likely to be the biggest ever. It could seek more than £56billion, it was reported by The Information, a tech news publication – much more than the £19billion record set by oil giant Saudi Aramco in 2019. And the company, which is developing craft for missions to Mars, is set to be marketed to investors with a target valuation of £1.1 trillion, around 94 times its 2025 revenue, according to Morningstar. The business was valued at just under £1 trillion after it merged with Musk’s AI outfit to form the world’s most valuable private firm. Space X bought xAI, known for the Grok chatbot on social media website X. The firm was reported to be valued at £910billion last month. Floating in space: Space X, owned by billionaire Elon Musk, is reportedly set to file the prospectus for an initial public offering with regulators in the US within the next two weeks RELATED ARTICLES