SpaceX on cusp of record IPO that could make Musk a trillionaire

SpaceX is set to launch the largest initial public offering (IPO) in history, with trading expected to begin on the Nasdaq exchange on Friday. The company, co-founded by Elon Musk in 2002, will offer more than 555 million shares at an expected price of $135 each, potentially valuing it at around $1.8 trillion. This valuation could propel Musk into trillionaire status, as the IPO includes shares from his xAI and X (formerly Twitter) ventures, which were folded into SpaceX earlier this year. Regulatory approval for the IPO is expected Thursday, with pricing finalized the same day. The offering has already drawn significant investor interest, reportedly attracting more than four times the available shares, though it remains unclear whether SpaceX will raise its offer price. Thirty percent of the shares will be allocated to retail investors, triple the typical allocation, allowing Musk’s supporters to participate. The IPO hinges on investors’ confidence in Musk’s vision, including ambitious projects like placing data centers in space and colonizing Mars. While SpaceX’s revenue hit $18.7 billion in 2025, the company reported a net loss of $4.9 billion, raising questions about its financial sustainability. The company’s filing claims it could generate over $28.5 trillion in future revenue, a projection that has sparked skepticism on Wall Street. If successful, the IPO will surpass Saudi Aramco’s $29.4 billion debut in 2019, marking the largest public offering ever. Musk will retain leadership roles as CEO, CTO, and board chairman of the newly public company. The offering is expected to create thousands of new millionaires and billionaires among employees and investors, though its long-term success depends on delivering on its high-risk, high-reward ambitions.