SpaceX is gearing up for what could be the largest IPO in history, targeting a mid-to-late 2026 public offering that would raise $30 billion at a staggering $1.5 trillion valuation. The move marks a dramatic shift for Elon Musk's space empire, which had previously resisted going public while building a rocket manufacturing and satellite internet dynasty that's reshaping the space economy.
SpaceX just threw down the gauntlet for what could be Wall Street's biggest spectacle in years. The rocket company is planning a 2026 IPO that would raise $30 billion at a valuation around $1.5 trillion, Bloomberg reported Monday, citing multiple sources familiar with the plans.
That would eclipse Saudi Aramco's $29 billion debut in 2019, currently the largest IPO on record. For context, that puts SpaceX's projected market cap somewhere between Apple and Microsoft - a remarkable achievement for a 22-year-old company that was nearly bankrupt in 2008.
The timing represents a complete strategic pivot. SpaceX had long indicated it would keep the main rocket business private while potentially spinning off its Starlink satellite internet division for public trading. "Going public right now would be very painful," Musk said in a 2021 interview, citing the regulatory scrutiny that comes with public markets.
But the numbers tell a different story now. SpaceX has become a money-printing machine, with Starlink alone generating over $6 billion in annual revenue, according to industry analysts at Morgan Stanley. The company's Falcon Heavy and upcoming Starship missions are capturing an increasing share of the global launch market, while its government contracts with NASA and the Pentagon provide steady baseline revenue.
The Information first broke news of the 2026 IPO timeline last week, but Bloomberg's report adds crucial valuation details that have investors buzzing. The $1.5 trillion target would value SpaceX at roughly 250 times its estimated annual revenue - a premium that reflects both its dominant market position and the explosive growth potential in commercial space.
Meanwhile, current SpaceX employees are getting a preview of that valuation through internal share sales. The Wall Street Journal reported the company recently completed a secondary offering valuing it at over $800 billion, with employees selling shares at $420 each. Bloomberg's sources say that figure has already moved higher in recent days, with about $2 billion worth of employee shares changing hands.
