Tech billionaire Elon Musk’s space company SpaceX is deep in the red. Nevertheless, it is on the way to the largest IPO to date.
June 4, 2026, 6:19 amJune 4, 2026, 6:23 am
Elon Musk’s space company SpaceX wants around 75 billion in its record IPO US dollars (around 59.3 billion francs). With an issue price of $135, the loss-making company is aiming for a total valuation of almost $1.8 trillion straight away. With the IPO, Musk’s wealth is likely to exceed the $1 trillion mark – at least on paper.
Elon Musk’s fortune could soon break the trillion mark.Image: keystone
The multi-billionaire will retain full control of SpaceX even after the IPO, with a voting share of more than 80 percent. The basis for this is shares with more voting rights.
SpaceX shares are being sold to investors as a big bet on Musk’s innovative strength – similar to the electric car manufacturer he also runs Tesla. Musk talks about flights to Mars, a city on the moon and AI data centers in space.
First person to have a trillion-dollar fortune
Musk’s equity stake in SpaceX will be worth around $866.5 billion at the issue price. He also holds about $350 billion worth of Tesla stock. Musk would be the first person with a trillion-dollar fortune. However, since his wealth consists almost entirely of stocks, it is more of a theoretical value that Musk could not easily liquidate.
A SpaceX rocket takes off. (archive image) Image: keystone
Unlike many other IPOs, SpaceX set the issue price itself. Companies usually first name a range – and then determine the price based on investor interest.
The record ambitions for SpaceX’s IPO come as no surprise. The figures from the updated prospectus correspond to the key points previously mentioned in media reports. In the largest IPO to date, the Saudi Arabian oil company Aramco raised a good $29 billion in 2019.
Big losses at SpaceX
SpaceX’s pure business figures are in stark contrast to the targeted stock market value – investors are more likely to pay for the hope of future success. Last year there were red figures of around 4.94 billion dollars with sales of 18.67 billion dollars (a good 14.8 billion francs). One reason for the minus is the high costs of developing the large Starship rocket. SpaceX’s central moneymaker is its satellite internet service Starlink.
With the desired valuation, SpaceX, for example, would bring more to the stock market than the Facebook Group Metawhich has a market value of around $1.6 trillion. However, in the last quarter alone, Meta made around $26.8 billion in profit on a good $56 billion in sales.
SpaceX plays a key role in the American space program with its rockets. Musk also brought his AI company xAI and the online platform X into SpaceX. According to media reports, the group was valued at a total of $1.25 trillion during this merger. There has been speculation for some time that Musk could also seek a merger between SpaceX and Tesla over time.