![\"Musk\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/06\/AP26154448087145-1780541526.jpg\")
Elon Musk departs after a welcome ceremony with US President Donald Trump and China\u2019s President Xi Jinping at the Great Hall of the People, in Beijing, China, on May 14, 2026 [Mark Schiefelbein\/AP]<\/p>\nElon Musk\u2019s rocket company SpaceX is targeting a valuation of nearly $1.77 trillion in its blockbuster initial public offering (IPO), paving the way for the largest stock market debut in history.<\/p>\n
In a filing with the\u00a0US Securities and Exchange Commission\u00a0on Wednesday,\u00a0SpaceX\u00a0said\u00a0that it plans to sell\u00a0555.6 million shares at $135 apiece, raising\u00a0approximately\u00a0$75bn.<\/p>\n
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The eye-popping valuation would make SpaceX the world\u2019s seventh-largest company by market capitalisation, ahead of Musk\u2019s electric vehicle maker Tesla and social media giant Meta, and just behind Taiwanese chipmaker TSMC.<\/p>\n
It would also eclipse energy giant Saudi Aramco\u2019s 2019 debut, which raised $26bn at a valuation of $1.7 trillion.<\/p>\n
Musk, who holds a roughly 42 percent stake in SpaceX, is poised to become the world\u2019s first trillionaire upon the public offering next week.<\/p>\n
SpaceX shares are expected to trade on the New York-based Nasdaq stock exchange from June 12.<\/p>\n
Despite the public listing, Musk will retain effective control of SpaceX with more than 82 percent of voting rights, the result of a dual-class stock structure that grants certain shares 10 votes instead of one.<\/p>\n
The Texas-based firm\u2019s decision to set a specific share price ahead of its IPO marks a break from usual practice.<\/p>\n
Companies\u00a0preparing for\u00a0a public listing usually announce a preliminary price range that can be adjusted based on investor interest.<\/p>\n
\u201cThe genuine surprise is that SpaceX fixed a price before the\u00a0investor\u00a0roadshow began,\u201d\u00a0Fabien Yip,\u00a0a\u00a0market analyst at online trading and investment company IG Group,\u00a0told Al Jazeera.<\/p>\n
\u201cTo me, this reflects Musk\u2019s control over the deal terms and his confidence that the book will fill.\u201d<\/p>\n
Elon Musk departs after a welcome ceremony with US President Donald Trump and China\u2019s President Xi Jinping at the Great Hall of the People, in Beijing, China, on May 14, 2026 [Mark Schiefelbein\/AP]<\/p>\n
Founded by Musk in 2002, SpaceX is best known for designing and launching rockets, spacecraft and reusable launch vehicles on behalf of NASA and private companies.<\/p>\n
The company also provides internet services and artificial intelligence models through its Starlink and\u00a0xAI\u00a0divisions.<\/p>\n
Musk has outlined lofty ambitions for SpaceX, including to establish a \u201cself-sustaining\u201d city on Mars, \u201cmake life multiplanetary\u201d, and \u201cextend the light of consciousness to the stars\u201d.<\/p>\n
SpaceX\u2019s listing will be a test of investors\u2019 confidence in Musk\u2019s vision, which has yet to\u00a0translate\u00a0into profits\u00a0at the company.<\/p>\n
SpaceX reported a net loss of $4.9bn on revenue of 18.7bn in 2025, followed by a $4.3bn loss in the first quarter of this year.<\/p>\n
Jay R Ritter, an emeritus professor at the University of Florida who specialises in IPOs, said the SpaceX IPO differs from Saudi Aramco\u2019s blockbuster listing as the state-owned oil company had a track record of generating large revenues and profits.<\/p>\n
\u201cSpaceX, in contrast, has trailing annual revenue of less than $20bn, and is not profitable,\u201d Ritter told Al Jazeera.<\/p>\n
\u201cSo, one company\u2019s valuation was \u2013 and is \u2013 based on its demonstrated profitability, while the other company\u2019s valuation is based on potential.\u201d<\/p>\n
\u201cWith SpaceX, there is a risk that cash flows will be used to send hundreds of thousands of people to Mars, at a loss,\u201d Ritter added.<\/p>\n
Despite SpaceX\u2019s lack of profitability, market sentiment is strong, said IG\u2019s Yip, noting that buyers of investment products linked to the listing are pricing the company\u2019s end-of-first-day market capitalisation at $2.2 trillion.<\/p>\n
\u201cThe Tesla parallel is perhaps worth drawing: It debuted in 2010 as a loss-making company and largely tracked the S&P 500 for years, only breaking away decisively once it turned profitable for the first time in Q1 2013,\u201d Yip said, referring to the benchmark stock index on Wall Street.<\/p>\n
\u201cSpaceX investors are making a similar bet on future growth, with the added complexity that SpaceX\u2019s addressable market\u00a0\u2013\u00a0rockets, satellite internet, AI\u00a0\u2013\u00a0is considerably broader than Tesla\u2019s was at listing.\u201d<\/p>\n
SpaceX\u2019s debut is the first of three mega-IPOs expected this year, along with AI startups OpenAI and Anthropic.<\/p>\n
The listings are poised to add trillions of dollars in value to the US stock market, which is already hovering at record highs on the back of the AI boom.<\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk\u2019s rocket company SpaceX is targeting a valuation of nearly $1.77 trillion in its blockbuster initial public…\n","protected":false},"author":2,"featured_media":713868,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,1686,49,48,46,250,14380,44,306,61,772,1690],"class_list":["post-713867","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-business-and-economy","tag-ca","tag-canada","tag-economy","tag-elon-musk","tag-financial-markets","tag-news","tag-space","tag-technology","tag-united-states","tag-us-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/713867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=713867"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/713867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/713868"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=713867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=713867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=713867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}