Elon Musk’s rocket company SpaceX is preparing for what could become the largest initial public offering in history, targeting a market valuation of about $177 trillion. According to a filing with the U.S. Securities and Exchange Commission, SpaceX plans to sell 556 million shares at $135 each, aiming to raise roughly $75 billion. Trading is expected to begin on June 12 on the Nasdaq Stock Exchange in New York.

The IPO would make SpaceX the world’s seventh-largest company by market capitalization, surpassing Tesla and Meta, and ranking just behind Taiwan’s TSMC. The listing is also set to break Saudi Aramco’s 2019 IPO record. Despite going public, Musk will retain effective control of SpaceX through a dual-class share structure granting him over 82% of voting rights. The company’s decision to set a fixed share price before launch is considered unusual compared to standard IPO practices.

Founded in 2002, SpaceX designs and launches rockets and spacecraft for NASA and private clients, and also operates its Starlink and xAI divisions. The IPO will test investor confidence in Musk’s long-term vision, as SpaceX reported heavy losses in 2025 and early 2026.