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On Thursday, before the U.S. stock markets closed, SpaceX, Elon Musk’s company, announced the price at which it is going public.
"Space Exploration Technologies Corp. ("SpaceX") today set the price for its initial public offering of 555,555,555 Class A shares at an offering price of $135.00 per share," the company said in a press release. "The shares are expected to be listed on the Nasdaq Global Select Market and Nasdaq Texas on June 12, 2026, under the ticker symbol 'SPCX.' The offering is expected to close on June 15, 2026, subject to customary closing conditions. In addition, SpaceX has granted the underwriters a 30-day option to purchase up to 83,333,333 additional shares of its Class A common stock at the initial public offering price."
SpaceX’s IPO is expected to be the largest ever, even though it is a loss-making company. The man who is already the richest in the world could earn $200 billion in one fell swoop if the stock price remains stable. According to the Bloomberg news agency, Musk’s net worth would then rise to $988 billion.
The company is offering more than half a billion shares at $135 each, totaling $75 billion. The total market value is estimated at $1.75 trillion, an astronomical sum for a company that is still operating at a loss and has revenue of $18.7 billion.
Musk’s ambitions, as revealed in the IPO prospectus, are exceptionally grand: he envisions AI data centers in orbit around Earth, factories on the moon, mining on asteroids, and colonies on Mars. He is already pouring tens of billions into rockets, AI, and a massive chip factory. Starlink, the satellite internet service with 10,000 satellites, is the only real success story so far.
Investor enthusiasm is fueled by Musk’s track record with Tesla and the classic “fear of missing out.” In 2010, Musk took Tesla public. Anyone who bought shares for 1,000 euros back then saw that value rise to a staggering 300,000 euros. Up to 30 percent of the shares are available to retail investors, far more than usual.
Critics do point to the company’s loss-making balance sheet, the highly concentrated governance structure (with Musk holding 85 percent of the voting rights), and a potential conflict of interest with his other companies. If the stock price rises higher than expected, Musk could become the world’s first trillionaire.
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