SpaceX filed for its highly-anticipated IPO Wednesday—a big step toward Elon Musk becoming a trillionaire.

The offering is estimated to value SpaceX at $1.75 trillion and raise $75 billion—more than double Saudi Aramco’s $29 billion debut in 2019 as the largest-ever IPO. The company is expected to list in June.

The world’s richest man has a net worth of $824.3 billion as of Wednesday, and with an estimated 43% stake in SpaceX, his net worth would be all but guaranteed to surpass the $1 trillion mark.

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Stock futures stumbled and oil prices soared following President Donald Trump’s prime-time speech Wednesday, in which he said that U.S. military goals were “nearing completion,” while adding that Iran would be hit “extremely hard over the next two to three weeks.” Trump also claimed the Strait of Hormuz would “open up naturally,” and the price of crude oil spiked 7% following the president’s remarks.

NASA successfully launched Artemis II on Tuesday, a 10-day crewed flight around the moon that will mark the first time astronauts have traveled beyond low-Earth orbit since Apollo 17 in 1972. The mission is the first step in NASA’s plan to return humans to the lunar surface, with a landing targeted for 2028.

Health care continues to buoy the job market, as U.S. private sector employment held steady in March, according to payroll processing firm ADP.........

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