Elon Musk’s SpaceX on path to create history with 'biggest IPO' ever, making it larger than Tesla: All you need to know

Elon Musk’s space company, SpaceX, has pulled off the largest initial public offering (IPO) in history, raising $75 billion in a single listing that dwarfs every IPO that came before it, Bloomberg has reported. The IPO also pushes the Tesla CEO to the edge of becoming the world's first trillionaire, and signals what may be the most consequential wave of technology listings Wall Street has ever seen. The company priced 555.6 million shares at $135 each, giving it a market valuation of $1.77 trillion at the offering price – a figure that places it among the ten most valuable publicly listed companies in the world and makes it larger than Musk’s own Tesla. “Space Exploration Technologies Corp. ("SpaceX") today confirmed the pricing of its initial public offering of 555,555,555 shares of its Class A common stock, at a public offering price of $135.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market and Nasdaq Texas on June 12, 2026, under the ticker symbol "SPCX." The offering is expected to close on June 15, 2026, subject to customary closing conditions. In addition, SpaceX has granted the underwriters a 30-day option to purchase up to an additional 83,333,333 shares of its Class A common stock at the initial public offering price,” the company said.To put the scale in perspective: SpaceX's IPO is more than double the size of Saudi Aramco's $29.4 billion listing in 2019, which had previously held the record, Bloomberg reported.The offering drew demand for more than four times the available shares, according to Bloomberg News, which added that retail investors placed more than $100 billion in orders for the stock, far exceeding the 20% of shares that had been reserved for them. Banks have also been granted an over-allotment option to purchase an additional 83.3 million shares at the IPO price. If fully exercised, that would push the total size of the deal to approximately $86 billion.Musk’s net worth will rise by roughly $275 billion as a result of the offering, bringing his total wealth to approximately $970 billion, which is a few billion short of the $1 trillion mark that would make him history's first trillionaire on record. His SpaceX stake, including options, is valued at $688 billion at the $135 share price.SpaceX’s transformation over the past six months has been striking. The company that built its identity around rocket launches and Starlink satellite internet has repositioned itself as an AI infrastructure giant. The company's valuation was around $800 billion in an insider share sale as recently as December. It rose to $1 trillion following SpaceX's acquisition of Musk's xAI in February, and has now vaulted to $1.77 trillion at the IPO price. That is more than double its valuation from July of last year. Much of that shift has been driven by a series of major computing infrastructure deals. SpaceX has signed agreements to provide AI compute capacity to Anthropic and Google for a combined $2.17 billion per month.Musk’s broader pitch places SpaceX at the centre of an ambitious vision: data centres in space, robot factories on the moon and a permanent human colony on Mars.