SpaceX IPO to Be Largest Ever at $135 Share Price
Article excerpt
SpaceX will price its initial public offering at $135 per share, positioning Elon Musk's rocket company to surpass Saudi Aramco's 2019 IPO as the largest ever by both valuation and total capital raised. The pricing marks a watershed moment for commercial spaceflight, which has moved from government-dependent contracts to private investment at scale. SpaceX has spent nearly two decades building launch infrastructure, securing national-security contracts, and developing reusable rocket technology before going public. The IPO will flood the company with cash to accelerate plans for Mars missions and expand Starshield capabilities for military customers. Investors are betting on SpaceX's dominance in satellite internet and government contracts, though the company faces regulatory scrutiny and competition from emerging launch providers.
SpaceX is preparing for the largest stock market debut in history, announcing Wednesday that it planned to raise approximately $75 billion in an initial public offering that would value the company at roughly $1.77 trillion.
The space and satellite giant plans to sell 555.6 million shares at an expected price of $135 per share, according to a filing with the Securities and Exchange Commission. If completed as planned, the offering would eclipse the record-setting $26 billion IPO of Saudi Aramco in 2019 and instantly rank among the largest public offerings ever.
The offering will also further cement founder Elon Musk’s control over the company. According to the filing, SpaceX will maintain a dual-class share structure, and following the IPO, he is expected to control about 82.4% of the company’s voting power.
The IPO would place SpaceX among the most valuable publicly traded companies in the world. At a projected market capitalization of $1.77 trillion, only a handful of companies in the S&P 500 command higher valuations, led by Nvidia at roughly $5.2 trillion.
The public offering could also significantly boost Musk’s already record-setting fortune. Forbes estimates his net worth at about $826 billion, including a SpaceX stake valued at roughly $542 billion. A successful IPO at the proposed valuation would likely increase the value of that holding substantially, boosting his net worth into the trillions.
That level of ownership will allow Musk to effectively determine the outcome of shareholder votes, including the election of most SpaceX board members. The filing notes that SpaceX will qualify as a “controlled company” under Nasdaq corporate governance rules and that it intends to rely on exemptions from certain governance requirements available to firms dominated by a single shareholder.
The company reported a $2.6 billion operating loss in 2025 on $18.7 billion in revenue, according to the filing. Losses have continued into 2026 as SpaceX pours billions into developing its Starship rocket program, satellite infrastructure, and other long-term projects.
Investors are nevertheless betting that the company can capitalize on its dominant position in commercial launches and the rapid growth of its Starlink satellite internet business. Goldman Sachs is leading the offering, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase serving as additional underwriters.
60 MINUTES HOST SCOTT PELLEY FIRED AFTER ACCUSING CBS CHIEF OF ‘MURDERING’ SHOW
When Musk founded SpaceX in 2002, the company focused on building rockets and launching payloads into space. It later expanded into telecommunications with its Starlink satellite internet service and, earlier this year, merged with Musk’s artificial intelligence company xAI, which includes the social media platform X.
While SpaceX dominates the commercial launch industry, the company’s AI assets are increasingly seen as a major part of its valuation. The IPO comes amid a wave of investor enthusiasm for artificial intelligence, with Anthropic also planning to go public and OpenAI expected to follow.