According to informed sources, SpaceX, the space exploration company founded by Elon Musk, is planning an initial public offering (IPO) in mid-June 2026, targeting a valuation as high as approximately $1.5 trillion and aiming to raise $50 billion. If realized, this would surpass the $29 billion listing record set by Saudi Aramco in 2019, becoming the largest IPO in global history.
Since December of last year, SpaceX Chief Financial Officer Bret Johnsen has held multiple meetings with existing private investors to explore the possibility of a mid-2026 listing. Although founder Musk has long preferred to keep the company private, its continuously rising valuation and the successful operation of the Starlink satellite internet service are prompting a shift in this strategy. It is reported that SpaceX has recently held preliminary discussions with several Wall Street investment banks, intending to appoint them to lead the IPO.
As a private company, SpaceX has no obligation for mandatory disclosure, but some of its financial data has become known to the outside world through media reports. According to media reports from late 2025, the company was expected to achieve revenue of $16 billion that year and hold cash reserves exceeding $3 billion. A key driver of its financial strength is the Starlink project, which saw its revenue double in 2024, reaching $2.7 billion. Robust revenue and cash flow enable the company to support business expansion without requiring additional equity financing.
As of early 2026, SpaceX’s valuation in the private market had reached as high as $800 billion, based on its stock offerings to employees. This valuation is more than double its previous level. Calculated against the expected $16 billion revenue for 2025, its price-to-sales ratio is approximately 50 times, a relatively high level.
For potential investors, investing in SpaceX stock means potentially sharing in the growth dividends of the space exploration sector and having an opportunity to invest in a company experiencing rapid revenue and profitability growth. However, its elevated valuation, the potential for significant stock price volatility post-listing, and risks such as the company’s ability to secure government contracts potentially being affected by the founder’s personal factors also require careful consideration.
While preparing for the public listing, SpaceX has also provided liquidity channels for internal shareholders. The company operates an active internal trading program, allowing employees and existing investors to sell shares. For example, in late 2025, SpaceX initiated a secondary market stock sale where employees could transfer holdings at the $800 billion valuation, providing insiders an opportunity to partially cash out their investments before the IPO.
Currently, global financial markets are closely watching the recovery momentum of the US IPO market. Apart from SpaceX, several well-known technology companies are also preparing for potential listings. The space technology sector, due to its high barriers and broad prospects, continues to attract the attention of investors seeking to position themselves in this field. If SpaceX proceeds with its listing as planned, the sustainability of its profitability and the reasonableness of its valuation will become key factors influencing the future trajectory of its stock price.
