SpaceX Makes Record $75 Billion IPO, Elon Musk Set To Become Humankind's First Trillionaire

SpaceX has set a historic benchmark with the largest IPO ever, positioning itself among the world’s top public companies and bringing founder Elon Musk close to becoming the planet’s first trillionaire.

The company raised $75 billion by offering 555.6 million shares at $135 apiece, surpassing Saudi Aramco’s $29.4 billion 2019 listing.

Underwriters have the option to buy an extra 83.3 million shares at the IPO price, potentially increasing the deal to roughly $86 billion. The offering attracted demand more than four times the available shares.

The IPO values SpaceX at $1.77 trillion, with a fully diluted valuation of about $1.8 trillion, accounting for employee stock options and restricted shares. Musk’s retail investor base contributed heavily, placing over $100 billion in orders, far exceeding the 20% allocation reserved for them.

Critics remain cautious. Market experts are calling it “a hopes-and-dreams IPO,” driven by Musk and AI hype rather than profitability, as the company has yet to post a profit.

Still, regulatory adjustments could fast-track SpaceX into major indices like the Nasdaq-100, creating steady demand from passive funds and retail investors unable to access the IPO.

SpaceX is the first of three expected major AI-related IPOs this year, alongside Anthropic PBC and OpenAI, which could target valuations above $1 trillion each.

SpaceX’s valuation has jumped rapidly over the past year. The acquisition of Musk’s xAI in February lifted the combined company’s private value to $1.25 trillion, up from $800 billion in December 2025.

The IPO now places SpaceX among the top 10 global public companies, surpassing even Tesla Inc.

The company’s evolution over six months—from rocket launches and satellite broadband to AI infrastructure—has fueled investor optimism. SpaceX provides cloud computing services to Anthropic and Alphabet’s Google for up to $2.17 billion monthly, likely becoming its largest revenue source.

Musk’s vision of space-based data centers and lunar robot factories resonates with AI-driven investment demand, even as much of the technology remains unproven and competition from Anthropic and OpenAI intensifies.