SpaceX is preparing to go public at a valuation of at least $1.8 trillion, a figure that would make it the most valuable company to ever hit the public markets through an IPO. Elon Musk will walk away from the process with more voting power than he had going in.
The listing is scheduled for June 12, 2026, on Nasdaq under the ticker SPCX. SpaceX plans to issue 555.6 million shares at approximately $135 each, with potential proceeds reaching up to $75 billion.
The mechanics of Musk’s grip
Post-IPO, Musk is expected to retain between 82% and over 85% of voting control over the company through a dual-class share structure.
The $1.8 trillion target represents a modest reduction from earlier expectations. Previous reports had pegged the valuation at over $2 trillion.
SpaceX previously carried a private valuation around $800 billion. So going public at $1.8 trillion means existing shareholders are looking at a more-than-double return just on the listing event itself.
21 banks, one massive roadshow
The company is working with 21 banks to facilitate the offering, led by Morgan Stanley, Goldman Sachs, and JPMorgan, with Bank of America and Citi also among the lead underwriters.
A prospectus was expected on May 21, with the roadshow kicking off June 4. Pricing is set for June 11, just one day before shares begin trading. The SEC granted an expedited review process.
What this means for investors
A $75 billion IPO is a massive liquidity event. Fund managers rebalancing portfolios to make room for SPCX shares might trim positions in tech stocks, growth equities, or crypto-adjacent public companies.
At $1.8 trillion, SpaceX would instantly rank among the top five or six most valuable companies on Earth. When companies stay private longer, they capture more of the upside before retail investors get access. SpaceX’s private valuation was around $800 billion before this listing.
Musk’s retained voting control means SpaceX’s strategic direction won’t be subject to activist investor campaigns or board-level power struggles. Musk simultaneously runs Tesla, leads xAI, and owns X.