SpaceX Takes Steps Toward Initial Public Offering

Elon Musk’s SpaceX has confidentially submitted paperwork for an initial public offering, marking a significant move towards becoming a publicly traded company.

According to a report, the rocket and satellite business has filed documents with the SEC, and analysts suggest this could lead to the largest IPO ever recorded. Insiders shared this information with a CNBC reporter.

SpaceX seeks a valuation exceeding $1.75 trillion, with plans to possibly go public around June. This milestone comes after the company merged with Musk’s AI venture, xAI, which he valued at $1.25 trillion back in February.

If SpaceX’s IPO goes ahead, Musk would make history as the first to independently lead a company valued at $2 trillion. His net worth is estimated at around $840 billion, predominantly coming from Tesla, which has a market cap of about $1.4 trillion.

This confidential submission process allows for a pre-review of financial statements by regulators before they’re publicly disclosed. SpaceX is required to file a public registration statement at least 15 days ahead of its IPO roadshow for institutional investors.

If things go as planned, this IPO could break records for U.S. public offerings. Reports suggest SpaceX might aim to raise up to $75 billion—over three times more than the biggest previous U.S. IPO. For context, Alibaba raised $22 billion in 2014, and Visa brought in about $18 billion in 2008.

Since its founding in 2002 to advance reusable rocket technology, SpaceX has undergone substantial changes. After NASA’s Space Shuttle program ended in 2011, the company became a key launch partner for the agency. Since 2008, it has secured over $24.4 billion in federal contracts, including work with NASA and the Air Force.

SpaceX’s activity has surged, completing 165 orbital flights in 2025 alongside additional tests of its Starship Super Heavy Launch Vehicle, which is the largest rocket ever constructed.

Leena Agarwal, a finance professor at Georgetown University and expert on IPOs, pointed out that even strong companies depend on favorable market conditions for successful public offerings. “You might have solid fundamentals and investor interest, but market volatility can derail an IPO,” she noted. She expressed hope that the geopolitical climate will stabilize by June, reducing uncertainty.

Indeed, recent market conditions have not been ideal, with stock prices showing significant volatility, largely due to ongoing U.S.-Iran tensions and rising oil prices. The Nasdaq Composite Index, which includes many tech stocks, has experienced its largest weekly drop in about a year.

Nevertheless, Agarwal believes retail investors will show considerable interest when SpaceX finally goes public. “There won’t be another chance like this with five similar companies within the next five years,” she remarked. “This offers a unique opportunity for those interested in getting closer to Elon Musk.”