Elon Musk’s aerospace company, SpaceX, has begun outlining plans for the largest initial public offering (IPO) in history.
During a virtual meeting on Monday night with its full syndicate of bankers, the company revealed that retail investors will play an unusually significant role in the offering, as reported by Reuters.
Chief Financial Officer Bret Johnsen told bankers that retail participation would be central to the IPO strategy.
He reportedly described it as potentially “a bigger part than any IPO in history,” noting that long-time supporters of SpaceX and Musk would be given special consideration.
The remarks were made privately.
Retail investors to get unprecedented allocation
SpaceX is expected to reserve a far larger share allocation for individual investors.
While most IPOs allocate between 5% and 10% of shares to retail participants, founder Elon Musk has previously indicated he may set aside as much as 30% for smaller investors.
The company plans to formally launch its IPO roadshow during the week of June 8.
Ahead of that, approximately 125 analysts from 21 participating banks are scheduled to meet with executives.
On June 11, SpaceX intends to host 1,500 retail investors at a major event following the roadshow launch.
Retail investors from the United States, the United Kingdom, the European Union, Australia, Canada, Japan, and South Korea are expected to participate.
Aiming for record-breaking valuation
The IPO could become the largest public listing in history if it proceeds as planned.
Reports suggest the company is seeking to raise around [MONEY value=”75000000000″ currency=”usd” notation=”long” replace=”false”] potentially valuing SpaceX at approximately [MONEY value=”1750000000000″ currency=”usd” notation=”long” replace=”false”].
The target valuation represents a significant increase from the roughly [MONEY value=”1250000000000″ currency=”usd” notation=”long” replace=”false”] value established when SpaceX merged with Musk’s artificial intelligence startup, xAI, earlier this year.
Before that merger, a December 2025 tender offer had valued the company at around [MONEY value=”800000000000″ currency=”usd” notation=”long” replace=”false”].
SpaceX has already submitted a confidential draft registration statement to the US Securities and Exchange Commission.
This confidential filing process allows companies to receive regulatory feedback before publicly releasing full details such as the share price range and number of shares to be sold.
Growth driven by rockets and Starlink
SpaceX’s rapid growth has been fuelled by its reusable rocket technology and its satellite broadband division, Starlink.
These innovations have reduced launch costs while opening new revenue streams through global internet services.
Reports indicate the company generated roughly [MONEY value=”8000000000″ currency=”usd” notation=”long” replace=”false”] in profit on revenues between [MONEY value=”15000000000″ currency=”usd” notation=”long” replace=”false”] and [MONEY value=”16000000000″ currency=”usd” notation=”long” replace=”false”] last year.
Defining moment for space and tech
Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are leading the offering, alongside 16 additional banks.
Analysts believe the IPO could reinvigorate global listing activity and draw strong demand from both institutional and retail investors.
If completed, the listing would not only reshape the IPO market but also highlight the growing commercialisation of space, once seen as speculative, now increasingly viewed as a mainstream investment opportunity.
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