SpaceX could surpass all previous IPOs with a reported $75 billion listing

SpaceX, Elon Musk's rocket and satellite company, is reportedly preparing for a Wall Street listing as early as next month. Reports suggest the company could raise as much as $75 billion (€68bn), which would make it the largest IPO on record.

If it reaches that target, the listing would eclipse every previous market debut by a wide margin.

Saudi Aramco currently holds the IPO record. The oil company raised $25.6bn (€23.2bn) on the Riyadh Stock Exchange in December 2019. The listing was a major part of Saudi Arabia's Vision 2030 strategy, launched in 2016 by Crown Prince Mohammed bin Salman to reduce the kingdom's reliance on oil and attract outside investors.

Alibaba ranks second among the offerings listed in the article. The company raised $21.8bn (€19.8bn) on the New York Stock Exchange in September 2014.

Facebook, now Meta, raised $16bn (€14.5bn) in its Nasdaq debut in May 2012. That listing was affected by technical glitches and a weak start for early investors, although the company later became one of the world's most valuable businesses.

SoftBank Corp raised $21.3bn (€19.3bn) in Tokyo in December 2018. Another Japanese entry, NTT DoCoMo, raised $18.1bn (€16.4bn) in Tokyo in October 1998 during the global mobile boom.

Two major Chinese banks also appear on the list. Agricultural Bank of China raised $19.2bn (€17.4bn) across Shanghai and Hong Kong in July 2010. Industrial and Commercial Bank of China raised $19.1bn (€17.3bn) across the same exchanges in 2006.

Visa raised $17.9bn (€16.2bn) on the NYSE in March 2008 during the global financial crisis. AIA Group raised $17.8bn (€16.1bn) in Hong Kong in October 2010 after being carved out of AIG. Enel raised $16.5bn (€15bn) in Milan and New York in November 1999.

If SpaceX meets its reported fundraising target, its IPO would not only top the list but be nearly three times larger than the current record.