SpaceX is targeting the biggest IPO in history at $1.5 trillion valuation
According to recent reports from the Financial Times, Elon Musk is considering launching SpaceX’s long-awaited IPO (initial public offering) within months, to coincide with a rare planetary alignment, as well as his own birthday.
If it goes ahead, the offering could be the largest IPO in history. SpaceX is reportedly aiming to raise up to $50 billion at a valuation of roughly $1.5 trillion, far exceeding the record set by Saudi Aramco’s $29 billion listing in 2019. The company has been in talks with major Wall Street banks, including Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, to take lead roles in the deal.
It’s not all roses and sunshines however. Some investors have voiced their skepticism about the timeline and size of the record IPO. SpaceX has yet to file a Form S-1 with the U.S. Securities and Exchange Commission or organize a global roadshow, both steps known to be essential before going public.
Since mid-December, SpaceX chief financial officer Bret Johnsen has been holding discussions with existing private investors to gauge interest in an IPO as early as mid-2026, according to reports. While timelines and valuations remain preliminary, demand for shares is expected to be strong among both institutional and retail investors, many of whom have been unable to gain exposure while the company remained private.
SpaceX’s motivation for an IPO might be partly driven by capital needs. The company is investing heavily in developing its Starship rocket system, which is central to Musk’s long-term goal of sending humans to Mars. SpaceX has also shared that it is developing space-based data centers connected via its Starlink satellite network, a concept Musk believes could be critical for competing in the field of artificial intelligence against rivals such as Google and OpenAI.
In December, SpaceX discussed a private share sale valuing the company at around $800 billion, more than double its valuation from earlier funding rounds. Now the targeted IPO valuation is almost double the December value. The company has also invested billions in Musk’s AI venture xAI, underscoring the growing financial and strategic ties across his business empire.
