SpaceX Confidentially Files for $1.75 Trillion IPO, Targeting June 2026 Listing

SpaceX has taken a major step toward what could become the largest initial public offering (IPO) in financial history. The private aerospace company, founded and led by Elon Musk, submitted a confidential draft registration to the U.S. Securities and Exchange Commission (SEC) on April 1, 2026, with a targeted valuation of $1.75 trillion. The company plans to raise up to $75 billion through the listing, which is expected to take place on Nasdaq in June.

If successful, the $75 billion raise would more than double the $29 billion IPO record set by Saudi Aramco in 2019 and triple Alibaba’s $22 billion U.S. IPO record.

A Record-Breaking Valuation

The $1.75 trillion valuation would place SpaceX among the most valuable publicly traded companies in the world, ranking it behind only Nvidia, Apple, Alphabet, Microsoft, and Amazon in the S&P 500. Much of this valuation is attributed to SpaceX’s satellite internet division, Starlink, which ended 2025 with 9.2 million subscribers across 150 countries and generated approximately $16 billion in annual revenue. Projections indicate Starlink could reach $22 billion in revenue by the end of 2026.

SpaceX’s valuation is also supported by its merger with Musk’s artificial intelligence venture, xAI, which took place in February 2026. The merger integrated xAI’s Grok chatbot and Musk’s social network, X, into SpaceX, with Musk valuing the combined entity at $1.25 trillion at the time.

Since its founding, SpaceX has secured more than $24.4 billion in government contracts, including agreements with NASA, the U.S. Air Force, and Space Force, according to FedScout.

Plans for Public Offering

Codenamed internally as "Project Apex", the IPO filing was first reported by Bloomberg and independently confirmed by CNBC and Reuters. A confidential filing allows SpaceX to submit its financials to the SEC for review before making them public, which is a routine step before launching a roadshow to market shares to investors.

According to CNBC, SpaceX has enlisted 21 banks to manage the IPO. Senior bookrunner roles will be held by major financial institutions, including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. The company is also exploring a dual-class share structure to maintain insider voting control and intends to allocate up to 30% of shares to retail investors - a significant increase compared to the typical norm of 10%.

SpaceX has not issued a public statement regarding the filing.

Musk’s Trillionaire Potential

Elon Musk, who owns approximately 44% of SpaceX, currently holds a net worth of approximately $823 billion, according to Forbes. A successful public offering at the target valuation would edge Musk closer to becoming the world’s first trillionaire. Should this milestone be reached, Musk would also become the first individual to simultaneously lead two trillion-dollar publicly traded companies, with Tesla currently valued at around $1.4 trillion.

The Broader IPO Landscape

The SpaceX IPO could mark a defining moment for the technology sector, potentially making 2026 one of the most significant years for tech IPOs since the dot-com boom. Both OpenAI and Anthropic are reportedly considering public offerings before year-end, adding to the anticipation surrounding major tech IPOs this year.

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