To the Moon (Literally): SpaceX Files Secret IPO Targeting a Whopping $1.75T Valuation

Elon Musk's SpaceX has confidentially filed for an initial public offering with the SEC, according to Bloomberg. The move sets the stage for a potential June 2026 listing, targeting a valuation exceeding $1.75 trillion while aiming to raise approximately $75 billion. For those keeping score at home, that's roughly the entire market cap of 47 different crypto "ecosystems" combined—except this one actually has working rockets and doesn't just have a whitepaper with promises of "disrupting supply chains."

The company submitted its draft registration under SEC rules allowing confidential filings before investor outreach begins. This gives SpaceX time to receive regulatory feedback and adjust disclosures privately. Key details like pricing and share count will appear in later filings. Think of it like not posting your portfolio on Twitter before you actually buy—classic Web3 energy, except legally compliant and with fewer Rug Pull vibes.

SpaceX has reportedly lined up major banks for senior underwriting roles: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. The company is also considering a dual-class share structure, which would grant insiders—particularly Elon Musk—greater voting control over corporate decisions. Yes, it's basically a DAO where one person holds all the governance tokens. Make of that what you will, crypto degens.

If completed at the targeted valuation, SpaceX would become the first publicly listed company above $1 trillion at debut. The planned $75 billion raise would surpass the $29 billion raised by Saudi Aramco in 2019, making this the largest IPO in history by a wide margin. Forget about Token Generation Events—this is the ultimate TGE, except the token represents actual rockets that go to actual space instead of just vibes and roadmap promises.

According to an Axios report, the company may reserve up to 30% of shares for individual investors. This allocation is significantly above typical IPO participation levels, suggesting SpaceX might favor small-scale retail participants over large institutions. Finally, an IPO that actually remembers retail exists. Meanwhile, some crypto projects could never—even the ones that claim to be "community-owned."

The offering arrives as part of a broader wave of anticipated listings, potentially preceding IPOs from OpenAI and Anthropic. Apparently, 2026 is shaping up to be the year where everything that touched AI or rockets decides to go public. The real question is whether x86 or x87 will IPO next. We're calling it now.

SpaceX enters the IPO process following major structural changes across Musk's ventures. The company recently acquired xAI, valuing the combined entity at $1.25 trillion. However, limited historical financial clarity exists for these merged operations, leaving investors to navigate a sparse track record. To be fair, auditing a company that also owns an AI chatbot and a social media platform while launching satellites might require some creative