SpaceX Aims for IPO in 2026 Valued Over $30 Billion

According to Bloomberg, SpaceX, owned by Elon Musk, is seeking to conduct an initial public offering (IPO) in mid to late 2026, with a goal of raising over $30 billion, making it the largest public listing in history. The company aims for a total valuation of $1.5 trillion, with a share price of around $420 in a current secondary offering that places its valuation above $800 billion. In the current secondary offering, employees are allowed to sell $2 billion worth of shares, with SpaceX participating in buying back some shares to provide liquidity. This offering is bolstered by the strong performance of the Starlink satellite internet service, including its direct-to-mobile phone business, and the development of the Starship rocket aimed at the moon and Mars. The company expects revenues of $15 billion in 2025, rising to $22-24 billion in 2026, mostly from Starlink. Part of the funds will be used to develop space data centers, including purchasing chips needed to operate them, a project Musk has expressed interest in during a recent event with Baron Capital. Company officials suggested splitting Starlink into a separate public entity, as CEO Gwynne Shotwell mentioned in 2020, though Musk questioned the timing. CFO Bret Johnsen indicated in 2024 that this would 'happen in the coming years.' In a tweet on December 6, Musk stated, 'SpaceX has been cash flow positive for many years and buys back shares biannually to provide liquidity for employees and investors. The increases in valuation are a function of progress in Starship and Starlink and securing direct-to-cell global spectrum that significantly expands our target market.' These plans follow earlier reports on December 5 about the company exploring the possibility of an IPO late next year, with hiring for key roles and planning for capital expenditures, though the timeline may be pushed to 2027 based on market conditions. Key investors include venture capital funds such as Founders Fund by Peter Thiel, 137 Ventures, Valor Equity Partners, Fidelity, and Google's parent company Alphabet. In response to the news, shares of other space companies like EchoStar Corp (which agreed to sell spectrum licenses to SpaceX) rose by up to 12% in New York, setting a new record, while gains extended for Rocket Lab Corp.