SpaceX Targets $75 Billion IPO With Unprecedented Retail Allocation

Mintesinot Nigussie

SpaceX is preparing what could be the largest initial public offering in history, aiming to raise 75 billion US dollars and valuing the company at up to 1.75 trillion US dollars. The company plans to release its IPO prospectus publicly in late May and include a significant retail component in the offering.

The Elon Musk-led rocket maker intends to reserve shares for individual investors in the U.S., United Kingdom, European Union, Australia, Canada, Japan, and South Korea. The company plans to host 1,500 retail investors at a dedicated event on June 11, following a roadshow scheduled to begin the week of June 8.

Chief Financial Officer Bret Johnsen told bankers that retail investors will play “a critical part of this and a bigger part than any IPO in history.” He said the large allocation reflects the support retail investors have shown for the company and Musk over the years.

The meeting brought together the full syndicate of 21 banks involved in the deal for the first time, along with approximately 125 financial analysts ahead of the roadshow. One lead underwriter described the anticipated retail demand as unprecedented.

Morgan Stanley, Bank of America, Citigroup, JP Morgan, and Goldman Sachs are acting as active bookrunners, with sixteen other banks participating in institutional, retail, and international channels. The proposed retail allocation is far larger than in most IPOs, with Musk wanting to reserve up to 30 percent of shares for smaller investors.

SpaceX’s valuation has been influenced by its twice-yearly tender offers, which allow employees and investors to sell existing shares. The most recent tender offer in December 2025 valued the company at 800 billion US dollars prior to its merger with xAI.

The structure of the IPO and the exact size of the retail allocation are expected to be finalised closer to the launch. The move is set to create one of the most widely accessible public offerings in financial history.

Businesses and investors across technology, aerospace and defence sectors are closely watching this landmark IPO, which could reshape public market access for high-growth space companies.

Overall, SpaceX’s planned IPO with a massive retail component marks a historic moment in capital markets and highlights the strong public interest in the company’s future.