- SpaceX is aiming to raise $80 billion on a valuation of $2 trillion in its upcoming IPO.
- According to federal filings, some stock will be available at pre-IPO pricing to retail investors.
- Even at low the end of IPO estimates, Elon Musk is on track to become world's first trillionaire.
Accessing a hot company’s stock ahead of its IPO is typically territory reserved for a rarified class of financial players, think Wall Street bankers, hedge fund managers and high net worth individuals.
And there’s no hotter company right now, at least from a standpoint of intrigue and conjecture, than SpaceX, the Elon Musk-owned conglomerate that’s teeing up a public stock offering aiming to raise $75 billion to $85 billion in new capital on a valuation that could reach $2 trillion. That market splash could come as early as next month, according to submissions made to federal regulators.
Even the low-end estimate would shatter the current most valuable IPO on record, the $29 billion that petroleum industry giant Saudi Aramco eventually raised after its 2019 offering.
SpaceX, Musk’s space vehicle manufacturing and launch business also includes the Starlink satellite internet service and network, artificial intelligence startup xAI, as well as the X social media platform that xAI acquired in 2025.
According to submissions made to federal regulators, SpaceX plans to offer at least a slice of its new stock at pre-IPO prices through the retail investment market, bucking the usual convention of boxing out everyday investors in favor of the heavy hitters.
But it may still be a bit of a slog for the lowly day trader.
In a Wednesday SEC filing, SpaceX stipulated that it would make Class A shares available to retail investors through five online brokerage firms, including Charles Schwab, Fidelity, E-Trade by Morgan Stanley, Robinhood and SoFi.
However, the allocation of those pre-IPO priced retail shares is expected to be very limited and most individual investors will likely have their first shot at an open market purchase on June 12, when the new SPCX tickered stock is expected to debut on the Nasdaq Exchange.
All investments come with risk
As with any investment, the risks come in a variety of quadrants and many industry experts are advising a wait-and-see approach when it comes to diving in on SpaceX stock.
History suggests the prospect of buying in at pre-IPO pricing and garnering returns on the typical first day “pop” is real, but not guaranteed. An analysis of IPO data from 1980 to 2025 by Jay Ritter, director of the IPO initiative at the University of Florida and cited by CNBC, reveals that value jump averaged 19% above offering price over that time span.
But while those circumstances can lead to short-term gains through investing at the very beginning of an IPO, industry watchers warn there is always potential for volatility and longer-term investors should embrace caution when making stock purchase decisions.
“We’ve always taken a wait-and-see approach to that market,” Josef Schuster, founder of IPOX Schuster, an investment and research firm focused on IPOs, told CNBC Make It in April.
It’s also worth taking a close look at SpaceX’s current fiscal health. The SEC filings reveal that while the company brought in $18.7 billion in revenues in 2025, up sharply from 2024, it still lost almost $5 billion last year. Among SpaceX’s various brands, only Starlink has shown a profit in recent reporting.
Musk on track to become world’s first trillionaire
Investors have also zeroed in who will retain the most influence after the company goes public. For those who have tracked Musk’s modus operandi over the past decade, it will come as no surprise that the SpaceX CEO will end up with the lion’s share of available stock, and thus a firm grip on dictating the direction of the company.
Musk controls 85% of SpaceX’s shareholder voting power with nearly 850 million Class A shares and 5.57 billion Class B shares, and no other person or entity has a larger stake than 5%, according to SpaceX’s filing, per a report from Forbes.
Already the world’s richest individual with $813 billion in personal wealth as of midday Friday, Musk’s expansive holdings could propel him to the status of world’s first trillionaire following the SpaceX IPO.
If SpaceX is valued at $1.5 trillion, that would value Musk’s estimated stake at about $600 billion, increasing his net worth to just over $1.4 trillion, per a Forbes analysis. With a $2 trillion valuation, Musk’s stake would be valued at roughly $800 billion, potentially pushing his fortune above $1.6 trillion.