On April 1, 2026, SpaceX confidentially filed documents for an initial public offering with the US Securities and Exchange Commission (SEC). According to TechCrunch and Bloomberg, the company is targeting a valuation of $1.75 trillion. For comparison: Saudi Aramco's IPO in 2019 — the largest in history to date — reached approximately $1.7 trillion.
Why $1.75 Trillion?
The valuation is primarily based on Starlink, SpaceX's satellite internet service. According to industry estimates, Starlink has over 5 million subscribers worldwide and generates recurring revenues in the billions. The rest — rocket launches via Falcon 9 and Heavy, the development of Starship — are capital-intensive but strategically valuable.
PitchBook analyst Kyle Stanford called the valuation "justifiable," pointing to Starlink's monopoly-like market position in low-Earth-orbit internet and the lack of direct competition at this scale.
What a SpaceX IPO Would Mean
- For the market: An IPO of this size would redirect significant capital flows. Institutional investors would need to reduce positions in other tech stocks to purchase SpaceX shares
- For Starlink customers: As a publicly traded company, SpaceX would face pressure to deliver quarterly results. This could mean price increases and more aggressive monetization
- For the space industry: SpaceX would have access to public capital markets to finance Starship and Mars missions — without relying on Musk's other companies
- For Elon Musk: His stake in SpaceX would become liquid. Musk's net worth could double overnight
Open Questions
The IPO filing is confidential — the timeline and final valuation are not yet determined. It is also unclear whether SpaceX as a whole or only Starlink as a spin-off will go public. The latter has been repeatedly discussed in recent years.
The geopolitical situation (Iran conflict, oil price volatility) could delay the timing. But the direction is clear: SpaceX is preparing the largest IPO in history.
Sources: TechCrunch (04/01/2026), Bloomberg, PitchBook, Financial Content.