SpaceX targets record $75bn IPO, Musk could become first trillionaire
9 reported
SpaceX is aiming to raise $75bn in its initial public offering scheduled for 12 June, which would be the largest IPO in history, according to a filing on Wednesday. The company, formally known as Space Exploration Technologies Corp, plans to sell 555.6m shares at $135 each, giving it a market value of $1.77tn. Founder Elon Musk, already the world’s wealthiest person, could become the first trillionaire if the listing goes as planned, with Forbes valuing his net worth at $825bn. Musk is not selling any shares in the offering and would retain 82.4% of the voting power. The company, which is loss-making, reported a $4.9bn loss in 2025 on revenues of $18.7bn, though revenue grew by a third from the previous year. SpaceX’s business will be split into three parts: rocket launching, Starlink satellite broadband, and an AI company that includes X. A roadshow for the IPO is expected to start on Thursday, with Goldman Sachs as the lead bank alongside Morgan Stanley and 21 other banks working on the listing.
What’s reported
SpaceX is looking to raise $75bn from its IPO, scheduled for 12 June.
The company will sell 555.6m shares at $135 each, giving it a market value of $1.77tn.
Only six companies in the S&P 500 are worth more; Nvidia tops at $5.2tn.
The previous record IPO was Saudi Aramco in 2019 at $1.7tn, raising $25.6bn.
Musk is not selling any shares and would retain 82.4% of voting power.
Forbes values Musk’s net worth at $825bn, with his SpaceX stake at $542bn.
SpaceX lost $4.9bn in 2025 on revenues of $18.7bn; revenue rose by a third.
The business will split into rocket launching, Starlink, and an AI company including X.
A roadshow starts Thursday; Goldman Sachs is lead bank with Morgan Stanley and 21 others.
Key figures
Elon Musk, founder of SpaceX, Tesla, and X
Gwynne Shotwell, president of SpaceX
Bret Johnsen, chief financial officer of SpaceX
Dan Ives, analyst at Wedbush Securities
Jamie Dimon, CEO of JP Morgan Chase
Mary Callahan Erdoes, head of JP Morgan’s asset and wealth management division
Sources: The Guardian
