SpaceX targets biggest ever stock market debut, putting Musk on course to be trillionaire
SpaceX plans a $75bn IPO that could value it at $1.77tn and push Elon Musk toward trillionaire status.
Intelligence analysis by GPT-5.4 Mini
SpaceX is preparing what could be the largest IPO ever, selling shares at a valuation that would make it one of the most valuable companies in the market. The listing would deepen Musk’s control of a sprawling business tied to rockets, Starlink and AI ambitions.
SpaceX is trying to sell part of itself to the public like a giant lemonade stand selling tiny slices of ownership. If enough people buy in, Elon Musk could get even richer, and the company could become one of the biggest names on the market.
Analysis
What SpaceX is planning
SpaceX is aiming for a stock market debut next week, with the company saying in a filing that it plans to sell 555.6 million shares at $135 each. That would raise up to $75bn and imply a market value of $1.77tn, which the article says would make it the largest IPO ever.
Musk’s control and wealth
Elon Musk is not selling shares in the offering. According to the article, he would keep 82.4% of the voting power, and Forbes already values his stake in SpaceX at $542bn. The Guardian says a SpaceX float could put Musk on course to become the first trillionaire.
The business behind the valuation
SpaceX is described as loss-making overall, with 2025 losses of $4.9bn on revenue of $18.7bn. Revenue still rose by a third year on year, and the profitable part of the business is Starlink. The company is being split into three parts: rockets, satellite broadband and an AI-linked unit that includes X.
Why investors are paying attention
The article says many investors see SpaceX as a way to buy into Musk’s record and the wider AI boom. It also notes expectations that the company could have a large place in the S&P 500 because of its size, meaning many ordinary investors could end up exposed through funds and pension accounts.
Bigger picture
The filing comes amid a wave of large IPOs and fundraising tied to AI infrastructure, including datacentres and compute capacity. SpaceX also says it wants to develop datacentres in space and plans to begin launching “orbital compute” by 2028.
Key points
- SpaceX is preparing a possible $75bn IPO at a $1.77tn valuation.
- Elon Musk would not sell shares and would keep most of the voting power.
- The company lost $4.9bn in 2025 even as revenue grew by a third.
- Starlink is profitable, while the broader business is still loss-making.
- The deal is being pitched as part of a broader AI and datacentre boom.
If the listing succeeds, SpaceX could raise a huge amount of money to support its fast-growing businesses and future projects. Investors would gain access to a company with strong growth, a profitable Starlink arm and major contracts that already make it central to space launches.
The company is still loss-making overall, so the valuation depends heavily on investor confidence holding up after the IPO. If growth slows or the market cools on giant AI-and-tech bets, the stock could struggle to justify its size despite the headline valuation.
