The Bad PlaceAl Jazeera – Breaking News, World News and Video from Al Jazeera | Elon Musk’s SpaceX eyes $1.77tn valuation ahead of blockbuster IPO
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Elon Musk’s SpaceX is preparing a blockbuster IPO that would value the firm at about $1.77 trillion, making it the world’s seventh‑largest company by market capitalisation—ahead of Tesla and Meta and just behind Taiwan’s TSMC. The filing with the U.S. SEC shows the Texas‑based rocket maker will sell 555.6 million shares at $135 each, raising roughly $75 billion, with the shares slated to begin trading on Nasdaq on 12 June. Musk, who owns about 42 % of SpaceX, would retain effective control through a dual‑class structure that gives him more than 82 % of voting rights, potentially turning him into the planet’s first trillionaire. While SpaceX is famed for its reusable launch vehicles, Starlink internet service and the new xAI division, it has never been profitable, reporting a $4.9 billion loss on $18.7 billion revenue in 2025 and a $4.3 billion loss in the first quarter of 2026; the valuation therefore rests on future growth expectations—ranging from satellite internet to AI and a long‑term goal of establishing a self‑sustaining city on Mars—rather than on current earnings. Analysts note that the fixed share price before the roadshow is unusual and reflect confidence in Musk’s control of the deal, while market sentiment remains strong, with some investors projecting an end‑of‑first‑day market cap of about $2.2 trillion, likening the bet to Tesla’s early‑stage growth trajectory. This IPO is one of three mega‑listings expected this year, alongside AI firms OpenAI and Anthropic, and could add trillions of dollars to the U.S. stock market.
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