SpaceX Targets $75 Billion IPO That Would Triple Saudi Aramco’s Record

Elon Musk’s space company SpaceX is preparing an initial public offering that would shatter all previous records. According to consistent reports citing sources familiar with the matter, the company could raise around $75 billion at its planned debut in June 2026, with a valuation of more than $1.75 trillion.

For context: $75 billion currently corresponds roughly to the value of globally operating companies such as automaker Hyundai, hotel chain Marriott, or Apple supplier Foxconn. The largest IPO of all time to date is that of Saudi Aramco in December 2019, with an issuance volume of around $25.6 billion — SpaceX is targeting three times that amount.

Record volume far exceeding previous plans

Just a few weeks ago, an issuance volume of $50 billion had been discussed. At an investor meeting on Wednesday, SpaceX executives reportedly revised that target upward by a further $25 billion. This would more than double the previously largest IPO in history, the listing of Saudi Aramco in 2019, which raised around $29 billion.

Several sources confirmed to various media outlets that SpaceX had discussed raising more than $70 billion with potential investors. Representatives of SpaceX initially did not comment on the reports.

Valuation on par with the world’s largest corporations

With a targeted market capitalization of over $1.75 trillion, SpaceX would become the sixth most valuable publicly listed company in the world. Only five companies would then be larger:

• Nvidia
• Apple
• Alphabet
• Microsoft
• Amazon

SpaceX was most recently valued at around $1.25 trillion following its merger with Elon Musk’s AI company xAI. The valuation now being targeted at the IPO would therefore be significantly higher.

Timeline and structure of the IPO

SpaceX is aiming for trading to begin in June 2026, although the exact timing could still shift. The company is expected to file its IPO prospectus with US regulators this week or next. Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been named as underwriting banks.

The plan is to float less than five percent of equity. Unusual is the high allocation for retail investors: more than 20 percent of shares are set to go to individual investors, twice as much as is typical for IPOs. There is also discussion of whether existing shareholders will be permitted to sell their stakes on the first day of trading, or alternatively through a staggered model that allows positions to be gradually unwound over several months.

Market impact

The announcement of the upcoming IPO alone was enough to move the entire space sector. Shares of companies such as EchoStar, Intuitive Machines, Rocket Lab, and AST SpaceMobile recorded pre-market gains of up to 6.6 percent. Globalstar, Iridium Communications, and other satellite and space infrastructure providers also benefited from the increased investor interest.

Critical voices point out that the mega-IPO could put pressure on Tesla shareholders. Investors wishing to participate in the SpaceX IPO may be forced to sell Tesla shares first in order to free up the necessary funds.

Stock exchange rules are being adjusted

Alongside the planned IPO, major US stock exchanges have loosened their listing rules for new issuances. Nasdaq has proposed that large new listings can be included in the Nasdaq 100 as early as 15 trading days after their IPO. In addition, the previous minimum requirement of a ten percent free float is set to be dropped. The New York Stock Exchange, for its part, has introduced an accelerated inclusion in the NYSE 100 for companies with a correspondingly high market capitalization.