Offer could value Elon Musk’s company at US$ 1.77 trillion and surpass Aramco’s record
SpaceX, Elon Musk’s space company, set the price for its IPO (initial public offering of shares) at US$135 per share. According to an updated version of the document presented on Wednesday (June 3, 2026) to the SEC (United States Securities and Exchange Commission), the company intends to sell 555.6 million shares and raise US$75 billion. Here is it (PDF – 4.8 MB).
If confirmed, it will be the largest initial public offering in history. The amount surpasses the record US$29.4 billion raised by Aramco in 2019.
At the price set for the offer, SpaceX will be worth around US$1.77 trillion. The coordinators of the operation will also have the option to purchase an additional 83.33 million shares, which could increase fundraising by another US$11.2 billion.
The valuation would place SpaceX among the most valuable companies in the United States. The market value exceeds that of Tesla, also controlled by Musk, estimated at around US$1.6 trillion.
TIMELINE
The offer is scheduled for June 11th. The shares are expected to begin trading on the Nasdaq and Nasdaq Texas the following day under the ticker symbol SPCX. The roadshow with investors started this Thursday (June 4, 2026).
RESULTS
SpaceX recorded revenue of US$18.67 billion in 2025, up 33.2% from US$14.02 billion in 2024.
Despite the increase in sales, the company had a net loss of US$4.94 billion in 2025. In the previous year, it had recorded a net profit of US$791 million.
According to the prospectus, the company operates in 3 main segments: space, connectivity and artificial intelligence.
Starlink, the company’s satellite internet division, served 10.3 million subscribers in 164 countries and territories as of March 2026. The company also reported operating around 9,600 satellites in orbit.
SHAREHOLDER CONTROL
The prospectus states that Musk will retain more than 82% of the company’s voting power after the offering, through the structure of shares with different voting rights.
SpaceX will have two classes of common stock. Each Class A share will be entitled to 1 vote, while each Class B share will be entitled to 10 votes.
The operation is led by Goldman Sachs. Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase also participate.
Critics of the corporate structure claim that the model concentrates excessive decision-making power in Musk’s hands and reduces the influence of minority shareholders.
