SpaceX is preparing for one of the biggest stock market debuts in history. Elon Musk is reportedly preparing to take the rocket maker public as soon as next year at a valuation of around $1.5 trillion.
If the IPO goes as planned, it would be just shy of Saudi Aramco’s record-breaking $1.7 trillion IPO in 2019.
According to a report by Bloomberg, SpaceX executives and advisers are moving forward with plans for an initial public offering aimed at raising well over $30 billion and solidifying the company’s position at the center of the fast-growing commercial space industry.
Musk, 54, founded SpaceX in 2002 with the aim of revolutionizing space travel by reducing launch costs and making human missions to Mars viable. Over the past two decades, the company has transformed the global launch vehicle market, deploying its reusable Falcon 9 and Falcon Heavy rockets and becoming the partner of choice for governments, satellite operators and private customers.
The company has also built a significant second revenue engine with Starlink, its global broadband satellite network. Musk said in June that SpaceX expects to generate $15.5 billion in revenue this year, largely driven by growth in Starlink subscribers worldwide. By next year, he predicts the company’s commercial spaceflight revenue will exceed NASA’s launch and spaceflight budget, which is around $1.1 billion.
Starship — the 400-foot launch system that Musk has described as essential to transporting cargo and, ultimately, people to the Moon and Mars — remains a central pillar of SpaceX’s ambitions. Although Starship is still in development and testing, it is expected to support NASA’s Artemis program and future space missions.
SpaceX’s operating frequency has reached unprecedented levels. In 2024, the company conducted a record 134 Falcon launches, becoming the most prolific launch vehicle provider in the world. This year, 170 launches are planned, driven by demand for satellite deployments, commercial contracts and military work.
Its aggressive expansion has made SpaceX a frontrunner for major defense programs, including President Trump’s proposed Golden Dome missile defense shield, which would rely on advanced satellites to detect aircraft and missile threats.
A $1.5 trillion IPO would not only dwarf most previous technology exchanges, but also underscore the shift in global aerospace leadership as SpaceX moves far beyond its early role as a struggling NASA contractor to become the dominant force in commercial launches, satellite broadband and next-generation space infrastructure.
