SpaceX Sets Historic IPO Price, Valued at $1.77 Trillion
SpaceX priced its IPO at $135 per share, raising $75 billion and achieving a valuation of $1.77 trillion, making it the largest initial public offering in U.S. history and surpassing Saudi Aramco's record.
Elon Musk's aerospace and artificial intelligence company SpaceX has completed its initial public offering (IPO), selling 555.56 million shares at $135 each and raising a record $75 billion. This marks the largest IPO in U.S. history.
The company's post-IPO valuation stands at $1.77 trillion, surpassing the market capitalizations of financial giants such as JPMorgan Chase, Berkshire Hathaway, and Eli Lilly, as well as tech leaders like Meta Platforms and Musk's own Tesla. The previous IPO record was held by Saudi Aramco, which raised $25.6 billion in 2019 with a valuation of $1.71 trillion.
Share Allocation and Governance
SpaceX allocated a record 30% of its shares to retail investors. Underwriters may sell additional shares within 30 days, potentially increasing the valuation further. Founder Elon Musk retains 82% of voting rights after the IPO, ensuring tight control over the company's governance.
Risks and Competition
Despite the massive valuation, analysts highlight financial risks. Last year, SpaceX reported losses due to heavy investments in AI, and its revenues are significantly lower than those of other market leaders. The company faces intense competition from Jeff Bezos's Blue Origin in space commercialization and for government contracts.
"Financial forecasts are uncertain due to heavy reliance on government contracts. People buying these shares are investing in the future and in humanity's expansion beyond Earth, not just in a company," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
Founded in 2002, SpaceX describes its mission as building systems to make life multiplanetary. The company estimates its total addressable market at $28.5 trillion, calling it the largest in human history.
Road to the IPO
Preparation for the historic listing took months. On April 1, 2026, SpaceX confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC). Official S-1 documents were released on May 20, revealing financials for the first time. In early June, the company set a fixed price of $135 per share before a traditional roadshow. By June 9, demand had exceeded supply nearly fourfold, reaching $250 billion.
