SpaceX Plans Record-Breaking $75 Billion IPO, Potentially Making Musk a Trillionaire

SpaceX, the aerospace and satellite communications company headed by US tech billionaire Elon Musk, is planning to raise around $75 billion (€64.6 billion) through what would be a record-breaking initial public offering (IPO), according to a regulatory filing released Wednesday.

SpaceX intends to offer 555,555,555 shares at an initial price of $135 per share in an offering which, based on approximately 13 billion shares outstanding, would value the company at approximately $1.765 trillion.

If completed, the IPO would surpass the current fundraising record set by Saudi Arabian oil producer Aramco, which raised $25.6 billion during its 2019 public debut.

Analysts also note that the listing could make Musk — already the world's wealthiest individual — the first person in history to become a trillionaire.

SpaceX: What is so unique about this IPO?

The decision by SpaceX to publicly set a share price a week ahead of the IPO has few precedents on Wall Street, upending the longstanding market price-discovery apparatus and underscoring Musk's determination to raise record sums in novel ways.

"Nothing this IPO is normal in any course or sense," one investor, who is planning on buying into the offering, told the Reuters news agency. "But then again, this is the largest IPO in history so maybe that is not surprising."

The lack a clear public market benchmark for the share price is unsurprising given the paucity of public companies which share SpaceX's unique spectrum of interests across space, aerospace, telecommunications and defense.

SpaceX's revenues rose 33% to $18.67 billion in 2025 – although the company still posted a net loss of $4.94 billion.

"On the ​face of it, a 90-time revenue multiple is high by any standard," Tim Hatt, head of research and consulting at GSMA Intelligence, told Reuters. "But SpaceX is not traditional in any way and there are no true public comparables."

How has SpaceX developed over the years?

Founded in 2002, SpaceX pioneered new advances in private spaceflight.

In 2012, it became the first private company to successfully dock a spacecraft with the International Space Station (ISS), marking a major milestone in the commercial space industry.

In 2020, SpaceX achieved another historic first by becoming the first private company to carry astronauts to the ISS.

In February, SpaceX took over Musk's artificial intelligence firm, xAI – one year after xAI absorbed had the social network X, formerly known as Twitter.

Analysts anticipate further consolidation of Musk's business ventures in 2027, predicting that SpaceX could merge with his electric vehicle company, Tesla, as it continues to expand its focus on robotics, energy solutions, and autonomous transportation.

Edited by: Karl Sexton