SpaceX Challenges History's Largest IPO, Musk's Net Worth Could Surpass $1 Trillion

SpaceX, the American aerospace company founded by Elon Musk, has entered the final preparation phase for what could be the largest initial public offering (IPO) in history. The company is set to begin trading on the Nasdaq on June 12, 2025, issuing over 555 million shares at an expected price of $135 per share, giving SpaceX a market valuation of approximately $1.8 trillion. This milestone could propel Musk, the company’s co-founder, into the ranks of the world’s first trillionaire.

Among the tech and artificial intelligence (AI) giants preparing to enter public markets, SpaceX is leading the charge. OpenAI and Anthropic have also submitted their filings to regulators and are expected to follow suit. The IPO ceremony will be held at Nasdaq’s headquarters in New York’s Times Square, where Musk is expected to ring the opening bell.

This IPO represents Musk’s boldest financial move yet. His AI company xAI and social media platform X have been integrated into the SpaceX corporate structure earlier this year, consolidating his futuristic tech ecosystem under one publicly traded entity. With investor demand reportedly exceeding available shares by more than four times, there is speculation that SpaceX may raise the final offering price.

Notably, 30% of the IPO shares are reserved for retail investors—triple the typical allocation—allowing Musk’s supporters direct access to equity. After listing, Musk will serve as CEO, CTO, and Chairman of SpaceX.

However, some Wall Street analysts remain cautious. Despite rapid growth and $18.7 billion in revenue in 2025, SpaceX reported a net loss of $4.9 billion for the year. The company’s $1.8 trillion valuation hinges largely on Musk’s ambitious, science-fiction-like visions, including deploying data centers in space and sending humans to Mars using unproven technologies.

In its regulatory filings, SpaceX projected that its combined business lines could generate over $28.5 trillion in future revenue. While this underscores the company’s long-term potential, it also highlights the speculative nature of the investment. As SpaceX takes the lead, it may trigger a wave of IPOs from other AI and deep-tech firms aiming to capitalize on investor enthusiasm for transformative technologies.