SpaceX is reportedly moving toward a public listing at a valuation above $1.5 trillion, positioning the rocket and satellite company for what could become the largest IPO in history and further boost Elon Musk’s wealth trajectory.
The company confirmed its intentions in a newly filed S-1 registration statement with the U.S. Securities and Exchange Commission, offering the first detailed financial snapshot of one of the world’s most valuable private firms ahead of an expected IPO as early as next month.
The filing revealed that SpaceX held 18,712 Bitcoin (BTC) on its balance sheet as of March 31, valued at about $1.29 billion at the time. With Bitcoin trading near $77,000, those holdings would now be worth roughly $1.45 billion. SpaceX joins a small group of major corporations with meaningful Bitcoin exposure, alongside Tesla, which holds 11,509 BTC, and Strategy, which remains the largest corporate holder with 843,738 BTC.
SpaceX is reportedly targeting a valuation above $1.5 trillion, with some estimates suggesting it could reach as high as $2 trillion. At that level, the company would immediately rank among the world’s most valuable public firms alongside Apple, Microsoft, and Nvidia. It could also surpass Saudi Aramco’s 2020 IPO, which raised $29.4 billion and valued the company at around $1.7 trillion.
Investor appetite is expected to be strong, driven by SpaceX’s leadership in commercial space launch services and its rapidly expanding Starlink satellite internet network. The company has maintained a competitive edge through reusable rocket technology and a fast-scaling global satellite infrastructure.
The S-1 filing provides rare insight into SpaceX’s financial performance, including revenue growth, capital spending, legal risks, and ownership structure. Investors are particularly focused on governance details and the level of control Elon Musk will retain post-listing. The document shows revenue increasing to $18.7 billion in 2025, up from $14 billion in 2024.
SpaceX also highlighted artificial intelligence as part of its long-term strategy, framing it alongside its core operations as part of a broader “trillion-dollar market opportunity.”
Musk already leads Tesla, xAI, and the social media platform X, making the SpaceX IPO one of the most anticipated tech listings in years. He is expected to remain CEO, Chief Technical Officer, and Chairman following the public debut.
Meanwhile, SpaceX is not alone in pursuing the public markets. OpenAI and Anthropic are also reportedly considering IPOs, raising the possibility of multiple major tech and AI listings entering the market in close succession.
If that scenario plays out, analysts warn that capital could rotate into new equity offerings, potentially pulling liquidity away from risk assets such as cryptocurrencies as investors reposition into high-profile public market opportunities.
