- SpaceX valued at $1.77 trillion, forming part of
SpaceX IPO: Elon Musk’s rocket and satellite company SpaceX raised $75 billion (roughly Rs 6.26 lakh crore) in its initial public offering (IPO) on Thursday, pricing shares at $135 each in what is being called the largest IPO in history. The offering values SpaceX at around $1.77 trillion. The company is set to begin trading on Nasdaq under the ticker symbol ‘SPCX’.
The IPO is expected to add roughly $275 billion to Musk’s net worth, taking it to around $970 billion, according to Reuters. His SpaceX holdings, including options, are valued at approximately $688 billion at the IPO price. Once trading begins on Friday, his total net worth is projected to exceed $1.1 trillion, according to Forbes and Reuters calculations based on company filings.
Most of Musk’s wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion.
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What SpaceX Does And Earns
SpaceX was founded in 2002. The company defines its mission as “to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars.” It says its market opportunity spans $28.5 trillion, a figure it has called the largest in human history. Together with Tesla, it forms the centre of what market observers have called the “Muskonomy,” the network of businesses built around Musk.
Many investors are betting he can repeat the feat in space and artificial intelligence. Yet SpaceX remains cash-hungry, and much of the company’s valuation rests on technologies that may take years or decades to become commercially viable.
Some investors describe what they call an “Elon premium,” a valuation boost driven as much by faith in Musk’s vision as by traditional financial metrics.
Its space operations are responsible for more than four-fifths of the mass launched into orbit over the past three years. Its Starlink internet unit connects “millions of consumer, enterprise, and government customers across 164 countries, territories and other markets.” Starlink currently accounts for most of SpaceX’s revenue.
Last week, SpaceX said it entered into a multiyear cloud services agreement with Alphabet’s Google, locking in computing capacity at a time of increasing competition.
SpaceX IPO Breaks Saudi Aramco’s Record
SpaceX’s $75 billion IPO has broken the record previously held by Saudi Arabia’s state-run oil company, Saudi Aramco, which raised $25.6 billion on Riyadh’s exchange in December 2019, valuing it at $1.71 trillion. In inflation-adjusted terms, Aramco had raised $33.2 billion for a valuation of $2.21 trillion.
SpaceX’s current valuation of $1.77 trillion is based on 13.08 billion shares outstanding. It could rise further if the underwriters exercise their right to sell additional shares, a decision typically made within 30 days of the offering. Reuters had previously reported that SpaceX was seeking a $1.75 trillion valuation.
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SpaceX Did It Differently
The company communicated its IPO price just after 3 p.m. EDT on Thursday, when its pricing meeting with bankers concluded and U.S. markets were still open. The price was disclosed in a document called a “free-writing prospectus” filed with the Securities and Exchange Commission. SpaceX issued a press release half an hour later.
This was unusual. Typically, IPO pricing announcements happen after regular trading closes at 4 p.m., because companies are cautious about market-moving news affecting a share sale during active trading hours.
The timing was not the only thing SpaceX did on its own terms. It set aside 30% of shares for retail buyers, an unusually large allocation, and finalised Thursday’s offering price before the roadshow that bankers and investors have long used to negotiate IPO terms.
A Boost for the Broader IPO Market
The SpaceX listing arrives as the U.S. IPO market prepares for a sharp rebound. Goldman Sachs has forecast that IPO proceeds could quadruple to a record $160 billion in 2026, driven by a pipeline that includes not just SpaceX but also artificial intelligence companies OpenAI and Anthropic.
Investors will get their first look at the market’s reaction on Friday, when the stock is expected by many analysts to open in the afternoon, given the size and complexity of the deal.
