Elon Musk is working on a plan to give retail investors up to 30% of SpaceX’s initial public offering, far more than the 5% to 10% retail investors typically get in most IPOs.
The plan is being discussed as SpaceX prepares for a public listing that could value the company at nearly $1.75 trillion, Reuters reported.
The idea was shared with banks by SpaceX Chief Financial Officer Brett Johnsen, who reportedly explained how the deal would work to Wall Street firms. This plan is still under review and subject to change at any time. The goal is clear. Elon is hoping for strong demand from retail investors who are already following his company.
Demand is expected to be strong from individual investors, including family offices that have supported SpaceX for years and smaller investors who closely follow Elon. Many of them already followed the company when it was private, and Elon hopes they will hold on to the stock longer and avoid a quick selloff right after the IPO.
Elon, on the other hand, appears to have personally selected the banks involved in the SpaceX merger, giving each one specific tasks.
Bank of America will handle individual investors in the US, Morgan Stanley will use its E*Trade platform to bring in smaller investors, UBS will focus on wealthy investors outside the US, and Citi will be responsible for global distribution across both individuals and large institutions.
Other banks have regional ties, such as Mizuho for Japan, Barclays for the UK, Deutsche Bank for Germany, and of course Royal Bank of Canada for Canada.
Cryptopolitan previously reported that the retail share could exceed 20%. Internal consultation is currently approaching 30%.
Elon cuts staff and increases revenue at Company X as IPO plans move forward
At the same time, Elon fired Angela Zepeda, who had been chief marketing officer since September 2024, and is still busy transforming the company. Her resignation comes after Elon announced the merger of xAI and SpaceX.
Company X has also cut more than 20 employees in recent weeks. These were non-technical roles across marketing teams and other teams. These jobs were considered redundant with roles within the combined structure.
The staff remaining at X are now focused on revenue. John Shulkin is leading that effort. Jon is the Chief Revenue Officer at xAI and a Partner at Valor Equity Partners. His role covers both social platforms and AI businesses.
The revenue figure shows the current position. Company X’s U.S. advertising revenue is expected to increase 1.5% to $1.27 billion. Global advertising sales are expected to increase 2.2% to $2.19 billion. Back in 2021, before Elon took the company private, Twitter reported $4.51 billion in ad revenue.
These changes come as SpaceX nears its public launch.
