Ilon Musk prepares SpaceX for IPO: the company's capitalization could reach $1.7 trillion
Investment banks estimate that the potential capitalization could exceed $1.7 trillion, which could make the deal the largest IPO in global history.
According to market sources, the S-1 filing could take place as early as March. This means that for the first time the company’s key financials – revenue, margins, contract structure and debt load – will be disclosed. So far, SpaceX has remained the largest private aerospace company in the world.
Company founder Ilon Musk commented on the prospects of going public in his X account: “We are building the infrastructure for an interplanetary civilization. Going public will give us even more resources to accelerate progress.”
According to analysts’ estimates, the company’s annual revenue by the end of 2025 could exceed $35 billion, a significant part of which is attributed to Falcon 9 launches, development of the Starlink satellite network and government contracts, including cooperation with NASA.
What does this mean for the market?
A placement of this magnitude has the potential to redistribute liquidity in global capital markets. According to asset managers, funds will have to reduce positions in other technology companies to participate in the offering. In case of inclusion in the main indices, demand from passive funds may additionally support quotations.
Experts also note that the IPO will change the structure of the company itself: corporate governance will be strengthened, there will be requirements for transparency and reporting, and pressure from institutional investors will increase.
At the same time, analysts urge not to forget about the risks for investors. The key ones are related to the high capital intensity of projects, dependence on government contracts and large-scale investments in Starship. In addition, the $1.7 trillion valuation implies multipliers comparable to the largest technology giants.
If the offering takes place in the second half of 2026, it will become not only the financial event of the decade, but also a symbol of the space industry’s transformation into a full-fledged segment of the global stock market.
