SpaceX plans to raise about $30 billion via an initial public offering in 2026, valuing the company at almost $1.5 trillion, Bloomberg reported on Thursday, citing several people familiar with the matter.
If carried out on that scale, the listing would become the biggest in history, edging past Saudi Aramco’s $29 billion coming-out party and making SpaceX one of the most valuable public companies on Earth overnight.
The reported timetable follows previous indicators from The Information that a late-2026 listing might be possible and arrives amid new secondary market activity. The Wall Street Journal recently reported a private share sale aiming for a valuation of $800 billion. Bloomberg now reports that round has solidified above that level, with employees permitted to sell roughly $2 billion worth of stock at around (ha) $420 per share — a sign of healthy private-market demand and increasing price discovery as part of continued buildup toward an eventual IPO.
Why a $1.5 Trillion Target Is Important for SpaceX
A $1.5 trillion valuation would surpass the market values of several old-line aerospace manufacturers and signal that investors believe SpaceX is about more than just launching rockets into space. It would essentially price SpaceX as the leader on two platforms: first as the world’s leading provider of reusable orbital launch, and second with Starlink for global broadband.
The math entails premium multiples to traditional aerospace peers, but backers point to a rare combination of scale, vertical integration, and a backlog that spans commercial, civil, and national security customers. Wall Street has also long considered satellite internet a huge addressable market; research firms and Wall Street banks have estimated the broader space economy could reach or surpass $1 trillion in value over the next several decades, with connectivity as a significant portion of that figure.
Starlink Viewed as the Growth Driver for SpaceX
“We are still in the very early stages of understanding what people will do with Starlink,” Wedbush analyst Dan Ives wrote when the company launched, and it still sits at “the core of our valuation story.” With the subscriber base quickly ramping and service being offered in many countries, the operations are beginning to lever as the satellite density/mass increases while ground infrastructure can scale.
Strategic initiatives, such as direct-to-device connectivity with home-market mobile partners, add fitting optionality, which provides Starlink with the ability to target markets that have traditionally been served by terrestrial networks. SpaceX’s control of its own launch reduces the marginal cost of sustaining and refreshing the constellation, a structural benefit few rivals can match.
Launch Cadence and Reuse Are Core to the Thesis
SpaceX’s record launch cadence and deep reusability track record really form the backbone of investor confidence. Dozens of times now, Falcon 9 boosters have flown reliably enough to crush costs and schedules. That operational tempo has allowed SpaceX to deploy and restock Starlink at a pace that would be costly for competitors who depend on third-party rockets.
The company is also developing its next-generation Starship system for heavy lift and rapid reuse, a single configuration — consisting of two stages: the Super Heavy booster stage and a spacecraft stage — designed to eventually carry crew or cargo between Earth and the moon and beyond. Still in development, Starship is targeted for an even lower cost per kilogram to orbit and new mission profiles — capabilities that, if realized, could increase the moat around launch services and Starlink capacity.
Secondary Sales Signal Appetite for SpaceX Shares
Employee liquidity programs have served as a kind of bellwether for SpaceX’s private valuation in the absence of public trading. The reported $2 billion secondary sale at close to $420 a share shows that institutions want in and stand ready to underwrite forward progress increasingly at any price.
These deals also help SpaceX keep talent by turning some of the paper wealth in the company into cash, an important consideration for a business pursuing numerous capital-intensive programs at the same time.
Structure, Governance, and Hurdles Before a 2026 IPO
A few questions would determine a 2026 debut: Investors will be looking for any dual-class share structure that can concentrate voting control, how SpaceX breaks out the financials between launch and Starlink, and the free float. A $30 billion offering at a $1.5 trillion valuation will amount to about a 2% float if all proceeds are primary, which is smaller than many index funds usually like to see for inclusion in their portfolios. A combination of primary and secondary shares may potentially expand the float while rendering liquidity to early backers.
It is a dynamic business environment, and there will also be regulatory and national security considerations. Given SpaceX’s close government connections when it comes to launches, disclosures would have to walk a fine line between transparency and security restrictions, whereas any public offering would be subject to the ordinary review of the SEC and conventions around lockup periods. None of them are insurmountable, but they make the timing and structure more complex.
Implications for the Space Economy and Telecom Sectors
A SpaceX super IPO would reset space and telecom valuations. It might open a financing window for suppliers, hasten consolidation among smaller launch and satellite players, and make incumbent challengers racing to field their own broadband constellations or reusable rockets more competitive.
As with all pre-IPO planning, details can change. Plans to go public will be subject to market factors, Starlink’s operating needs, and the company achieving other milestones, hiring, and starting operations. Even so, the reported target is an indication that SpaceX and its investors see their company’s trajectory as something more than just an aerospace contractor — even at a global scale.
