SpaceX towards the world's largest IPO: $40 billion expected by 2026

SpaceX aims to become a major player in a historic financial operation. According to Bloomberg reports in December 2025, Elon Musk’s aerospace company has accelerated its plans for a stock market listing, scheduling its debut in the second half of 2026. The IPO operation promises to break all previous records: the plan involves raising approximately $40 billion, nearly $11 billion more than the previous world record set by Saudi Aramco in 2019 with $29 billion.

SpaceX’s stock market listing marks a turning point for the industry: the company aims for a valuation of $1.5 trillion and plans to offer 5% of its shares to public investors. This strategy could transform SpaceX into one of the largest publicly traded companies in the world and redefine the balance of the space economy.

Starlink and Starship Drive Valuation Toward $1.5 Trillion

The decision to accelerate the IPO reflects the strong momentum of SpaceX’s main businesses. According to informed sources, the company estimates revenues of about $15 billion in 2025, with significant growth to $22-24 billion expected in 2026. Most of these proceeds come from Starlink, the satellite connectivity service revolutionizing global internet access.

The expansion of Starlink remains the main growth engine. The satellite internet service has seen increasing penetration in global markets, while prospects for direct connectivity to mobile devices through recently acquired spectrum agreements have further expanded market potential. Meanwhile, progress on Starship—the rocket under development for lunar and Martian missions—has solidified SpaceX’s position as a leader in space exploration. On December 6, Musk stated on X that these two factors, along with the acquisition of global spectrum, were decisive in justifying the valuation reached.

Market Reacts Positively: Effects of the Announcement on the Stock Market

The announcement of the IPO plan has generated a positive reaction in the aerospace sector. EchoStar, which recently signed an agreement to transfer spectrum rights to SpaceX, saw an increase of up to 12% during trading, closing with a 6% gain. Rocket Lab, a company specializing in space transportation, rose by 3.6%. These movements indicate that SpaceX’s IPO is perceived as a positive catalyst for the entire sector.

Internal Share Strategy Before Public Listing

Alongside the IPO process, SpaceX completed a new internal share sale reserved for its existing shareholders. In the secondary market, the company set the share price at around $420, valuing the company at over $800 billion. This operation allowed employees to liquidate about $2 billion worth of holdings, while SpaceX repurchased a portion of its shares. The strategy aims to establish a fair market value before the public listing.

The core of long-term investors remains solid. Peter Thiel’s Founder’s Fund, 137 Ventures, and Valor Equity Partners are among the main long-term shareholders. Fidelity Investments also maintains a significant stake, as does Alphabet, Google’s parent company, which holds an equity share in the company.

Toward the Listing: The Countdown to the Largest IPO in History

Although the plan foresees a debut in the second half of 2026, SpaceX has clarified that timing could vary based on market conditions, with a possible delay to 2027. The company intends to allocate part of the funds raised through the IPO to develop space data centers and purchase critical components for operations.

Notably, SpaceX leadership has previously considered spinning off Starlink as an independent publicly traded company. In 2020, President Gwynne Shotwell first proposed this scenario. However, the acceleration of the entire group’s IPO plan suggests that this option may have been set aside in favor of a global holding company listing.

This operation would not only set a financial record—surpassing Saudi Aramco’s 2019 achievement—but also mark a turning point for the aerospace industry, confirming SpaceX as a key player in the modern global economy.