Elon Musk is preparing to take SpaceX public at a valuation that would make it one of the most valuable companies on the planet before it even starts trading. The target: somewhere between $1.75 trillion and $2 trillion.
To put that in perspective, only a handful of companies in history have ever touched the $2T mark. Apple needed decades of consumer electronics dominance to get there. Musk wants SpaceX to arrive at the doorstep on day one.
What we know about the listing
Musk has signaled expectations of raising up to $75 billion in the offering, with the headline valuation exceeding $2 trillion. On private secondary markets, the company is already being priced in that neighborhood. Forge Global, a platform that facilitates pre-IPO share trading, lists SpaceX shares at $650.66 per share, a figure that aligns with trillion-dollar-plus territory.
This would not be a typical tech IPO. SpaceX operates in aerospace, defense, and satellite internet through its Starlink division. Its revenue streams are diversified across government launch contracts, commercial satellite deployment, and broadband subscriptions for millions of users globally. The combination of recurring revenue from Starlink and high-margin government contracts is what gives bulls their thesis.
