SpaceX To Raise $75 Billion, Eyes $1.75 Trillion Valuation: Reports | Elon Musk
Why It Matters
The offering could unlock unprecedented retail exposure to commercial space, while the valuation gap forces investors to weigh speculative growth against near‑term financial risk.
Key Takeaways
- •SpaceX plans $75 billion IPO at $135 per share.
- •Proposed valuation hits $1.75 trillion, far above fair‑value estimates.
- •No price negotiation; 30% of shares reserved for retail investors.
- •Core Starlink profits offset massive losses from Starship and Mars projects.
- •Roadshow starts June 8, pricing June 11, listing June 12 in United States.
Summary
Elon Musk’s SpaceX filed an S‑1 indicating a $75 billion primary offering that would value the launch‑and‑satellite company at roughly $1.75 trillion. The filing sets a fixed price of $135 per share, with the roadshow slated to begin June 8 and pricing on June 11, followed by a June 12 listing.
Analysts note a stark gap between the asking valuation and Morningstar’s fair‑value estimate of about $780 billion. The company reported $18.7 billion in FY25 revenue but posted a $4.9 billion net loss, driven by heavy investment in Starship, orbital infrastructure and the nascent Mars‑colonization program. Starlink remains profitable, but much of the price hinges on future‑stage ventures such as XAI and deep‑space services.
Musk’s unconventional terms include no price negotiation and a record‑size retail allocation—30 % of the shares, with 500 retail investors invited to a dedicated event on June 11. As one banker quoted in the interview said, “the market has to meet the number we set,” shifting the negotiation to conviction rather than price.
If successful, the IPO could reshape capital‑market dynamics by channeling retail capital into a traditionally institutional‑only aerospace sector, while also providing SpaceX with a massive cash infusion to accelerate its ambitious roadmap. Conversely, the valuation premium may test investor tolerance for speculative, long‑term bets on space infrastructure.
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