SpaceX is heading into an IPO, possibly making Musk the first trillionaire ever
Elon Musk has confirmed reports that SpaceX is preparing for an initial public offering, potentially as soon as next year. While the CEO did not share specific details, reports indicate the company could raise more than $30 billion, which would push its valuation above $1 trillion.
The potential IPO was first reported last Friday by the WSJ and The Information, and Musk acknowledged the reports. In response to a post discussing the rumors, Musk said the information was “accurate,” offering no additional clarification.
Bloomberg reports that SpaceX is targeting a valuation of roughly $1.5 trillion for the entire business, including Starlink, its early-stage satellite internet venture. This would put the IPO among the largest in history, only surpassed by Aramco’s 2019 IPO.
Musk has previously said that Starlink would be spun off and listed separately once it reaches profitability, though he has not provided a timeline for that plan.
Going public would represent a significant strategic shift for SpaceX. The company has long resisted investor pressure to pursue an IPO to unlock shareholder value. Musk has never publicly explained his hesitation, but reports suggest ongoing frustration with the Securities and Exchange Commission, stemming from years of regulatory scrutiny related to Tesla.
People close to Musk say his priorities lie more with sending a crewed mission to Mars than navigating public market regulations. After confirming the IPO plans, Musk appeared to reinforce that focus by reposting an older SpaceX message reiterating the goal of landing humans on Mars before the end of the decade.
The SpaceX IPO is expected to generate massive returns for several early backers, including Google. In 2015, the company acquired a 7% stake in SpaceX for $900 million, at a $12 billion valuation. If SpaceX reaches a $1.5 trillion valuation, Google’s holding would be worth approximately $111 billion, ranking among the most successful startup investments on record.
Musk himself would also see a substantial increase in wealth. His current net worth of $460 billion could climb to nearly $1 trillion, with his 42% ownership in SpaceX alone valued at more than $625 billion, according to Bloomberg. Musk has long been viewed as a likely candidate to become the world’s first trillionaire, and a SpaceX IPO could ultimately turn that expectation into reality.
