Elon Musk and a circle of elite institutional and individual investors are set for huge gains as SpaceX THERE filed confidentially with the SEC to be made publicmultiple news outlets reported yesterday (April 1). IPO, it is expected that in June, it may value SpaceX in over 1.75 trillion dollars and raise up to $50 billion, giving early backers and Musk himself a spectacular payday.
Musk, who founded SpaceX in 2002 and still owns approx 42 percent of the company, would see his shares valued at around $735 billion at the estimated IPO price, extending his lead as the world’s richest man. The company is said to be considering a dual-class share structure to secure Musk’s control, even as it opens the door to public investors.
SpaceX is said to have listed a daunting list of 21 banksled by Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America and Citigroup, to run its books. Another 16 banks will take smaller roles.
SpaceX’s investor base expanded following SpaceX’s February merger with Musk’s AI company, xAIin an agreement that valued SpaceX at $1 trillion and xAI at $250 billion. The merger brought together several major venture capital firms, including Sequoia Capital, Andreessen Horowitz and Valor Equity Partners, as well as institutional players such as StepStone Group, Fidelity Management & Research and the Qatar Investment Authority. Those xAI investors will now see their shares repriced according to SpaceX’s rising valuation.
Another major beneficiary: EchoStar and its chairman, Charlie Ergen. EchoStar’s purchases of SpaceX’s stock-based spectrum rights — worth more than $19 billion combined — mean those shares could appreciate dramatically once the IPO begins trading.
For SpaceX’s earliest investors, the IPO represents long-awaited liquidity. in 2015, Google and Fidelity each participated in a $1 billion round that gave them nearly 10 percent of the rocket and satellite company. Their positions, mostly illiquid and difficult to value in the private markets, can now be marked multiple times.
Meanwhile, some latecomers to private rounds who gained exposure through intermediary vehicles or layered investment structures may find their ownership less clear.
The offering will give public investors access to an unusual package: a rocket manufacturer, a global satellite internet network and a rapidly evolving AI (xAI) platform, which includes chatbot Grok and social platform X. SpaceX generated an estimated $15-16 billion in revenue in 2025, with Starlink accounts for most of itaccording to reports. How Musk presents this complex mix to the public markets and manages the tension between innovation and profitability will likely determine the success of SpaceX’s market debut.
