BlackRock wants to write one of the largest single checks in IPO history, and Elon Musk’s SpaceX is the recipient.
The asset management giant is considering an investment of between $5 billion and $10 billion in SpaceX’s upcoming initial public offering, which could arrive as soon as June 2026. To put that range in perspective, the low end alone would dwarf most entire IPOs from the past decade.
SpaceX is reportedly targeting a raise of approximately $75 billion, at a valuation estimated between $1.75 trillion and $2 trillion. If those numbers hold, this wouldn’t just be the largest IPO of the year. It would be the largest IPO ever.
The numbers behind the noise
BlackRock manages roughly $536 billion in actively managed funds. A $5 billion to $10 billion allocation to a single IPO would represent roughly 1% to 2% of that pool.
