SpaceX Is About to Pull Off the Biggest IPO in Human History — And the Numbers Are Absolutely Wild

I've been following tech IPOs for years, but I've never seen anything like what's about to happen on June 12. SpaceX — the company that builds rockets, runs Starlink, and is trying to get humans to Mars — is going public. And the numbers are so massive they feel made up.

Let's Start With the Headline Number: $1.77 Trillion

SpaceX is targeting an IPO price of $135 per share, which values the company at $1.77 trillion. To put that in perspective: that makes SpaceX the seventh-largest company in the United States by market cap — bigger than Tesla, which is sitting around $1.6 trillion.

They're planning to sell 555.6 million shares, which would raise $75 billion in a single day. For context: Alibaba's IPO in 2014 was $25 billion and held the record as the biggest U.S. IPO of all time. SpaceX is about to triple that record.

The Contradiction: They're Losing $4.9 Billion a Year

Here's the part that makes your head spin. Despite all this hype, SpaceX lost $4.9 billion in 2025, even as revenue grew 33% to $18.7 billion. The company is burning serious cash on Starship development, satellite manufacturing, and the buildout of its Starlink ground network.

So why would investors value it at $1.77 trillion? Because they're not betting on what SpaceX is today — they're betting on what it becomes. Starlink alone has tens of millions of subscribers and is growing fast. And if Starship succeeds, SpaceX could potentially launch satellites for cents on the dollar compared to today's costs, which would be a game-changer for the entire space and defense industries.

Elon Musk Will Own 82% of the Votes

One thing that should give investors pause: after the IPO, Elon Musk will retain over 82% of the voting control. That means even as a public company, SpaceX is essentially Musk's personal rocket program. If you're a retail investor buying shares, you're along for the ride — but you have almost no say in where it goes.

This dual-class share structure isn't new for Silicon Valley (Google, Meta, and Snap all do it), but 82% is exceptionally high. You're betting on Musk's vision, full stop.

Goldman Sachs Is Leading the Deal — Wall Street Is All In

Goldman Sachs is the lead banker, followed by Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase. When all five of the biggest banks on Wall Street line up to underwrite a single IPO, you know there's serious institutional demand. These banks wouldn't risk their reputations unless they had buyers lined up.

What This Means for the Rest of Tech

SpaceX going public — and doing so at $1.77 trillion — sets a precedent. OpenAI is already filing confidential IPO paperwork targeting an $850 billion valuation. Anthropic isn't far behind. We're entering a new era where the biggest AI and space companies are coming to public markets, and retail investors will finally get access.

But remember: these companies are going public because their early backers want liquidity. The question you should ask yourself isn't "will this company be huge someday?" — it's "is it worth $1.77 trillion right now?"

Should You Buy SpaceX Stock?

I'm not a financial advisor, so I can't tell you whether to buy the IPO. What I can say is: SpaceX is genuinely world-changing technology, and Starlink is already a real, profitable business with massive scale. The Starship program, if it works as planned, could unlock an entirely new economy in orbit.

But $1.77 trillion is a valuation that requires everything to go right for the next decade. We're talking about a company that needs to grow at a rate no company in history has ever achieved to justify that price tag.

This is the biggest IPO in history. It's worth watching — and worth doing serious homework before you decide to participate.

What's your experience? Drop a comment below! 👇
Are you planning to buy SpaceX stock at the IPO price? Or do you think $1.77 trillion is way too expensive? Let me know your take!