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Video: SpaceX raises £56bn ahead of biggest ever IPO

Elon Musk's SpaceX has raised 75 billion US dollars (£56 billion) ahead of its record-breaking 1.8 trillion US dollar (£1.3 trillion) US stock market debut on Friday as it looks set to become the biggest flotation of all time.

The float could also make Tesla and X owner Mr Musk - already a billionaire - the world's first paper trillionaire and cement his position as the richest man on the planet.

In a filing with America's Securities and Exchange Commission (SEC), SpaceX confirmed the float price of 135 dollars (£100.65) for shares, with 555.6 million being sold.

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SpaceX raises £56bn ahead of biggest ever IPO

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