Elon Musk could move closer to becoming the world’s first trillionaire if SpaceX completes its planned public-market debut at the valuation currently being discussed by investors. The company is preparing for a June 12 listing that could value the rocket, satellite and space-infrastructure group at approximately $1.75 trillion, placing it among the most valuable companies in global markets from its first day of trading.

The offering is expected to raise about $75 billion, which would make it the largest initial public offering on record. Reports indicate SpaceX may allocate up to 30% of the IPO shares to retail investors, an unusually large share for a listing of this size. The stock is expected to trade under the ticker SPCX, with strong demand anticipated from institutions, individual investors and funds seeking direct exposure to one of the world’s most valuable private companies.

The trillionaire claim depends on final IPO pricing, post-listing share performance, Musk’s ownership stake and the value of his other holdings, including Tesla and xAI-linked interests. A public valuation near $1.75 trillion would substantially increase the market value of Musk’s SpaceX stake, though most of that wealth would remain tied to illiquid or volatile equity rather than cash.

A historic listing for public markets

SpaceX’s IPO would give public investors access to a business that has remained private while building dominant positions in commercial launch, satellite broadband and space infrastructure. Its Starlink network has become a central part of the company’s growth story, while launch services continue to benefit from government, defense, commercial satellite and scientific missions.

The scale of the proposed valuation has already drawn debate. Supporters argue that SpaceX combines infrastructure scarcity, technological leadership and multiple growth markets, including broadband, defense, satellite communications and long-term space logistics. Skeptics warn that a valuation above $1.5 trillion prices in years of flawless execution across businesses that remain capital intensive and exposed to regulatory, geopolitical and technical risks.

Valuation experts have also questioned the assumptions behind the offering. Some estimates place SpaceX’s fair value closer to $1.3 trillion, below the expected IPO valuation, reflecting uncertainty around long-term revenue, profitability and the size of its addressable markets. That gap between private-market enthusiasm and valuation discipline will be a central issue for investors.

Market impact and governance scrutiny

The IPO could become a defining event for U.S. equity markets in 2026. A successful debut would reinforce demand for large founder-led technology companies and could reopen the market for other late-stage private firms. It may also draw liquidity away from other growth stocks if investors rotate capital into SpaceX after trading begins.

Retail access is another important feature. Tokenized IPO products and brokerage access programs are already positioning the listing as a broader investor event, not only an institutional allocation. However, retail investors may face limited allocations before the stock opens and potentially sharp volatility once secondary-market trading begins.

Governance will be closely watched. Musk’s overlapping leadership roles across Tesla, SpaceX and other ventures may raise questions about management focus, capital allocation and related-party exposure. Public investors will also demand clearer disclosures on profitability, launch economics, Starlink margins, government contracts and long-term funding needs.

For Musk, the IPO could be a historic wealth event. For markets, it will test whether investors are willing to assign trillion-dollar public valuations to private frontier technology companies before their long-term economics are fully proven.