Overview
- SpaceX plans to list on Friday, June 12, offering more than 555 million new shares at $135 each to raise about $75 billion and target a valuation near $1.765–1.78 trillion.
- Elon Musk will remain CEO, CTO and chairman and hold roughly 82% of voting power through supervoting shares, leaving succession and governance decisions concentrated in his hands.
- Demand reports show institutional interest far outstrips available supply while the company unusually reserves about 30% of new shares for individual investors.
- Analysts warn the price implies an extreme revenue multiple — roughly 90–100 times 2025 sales — and Morningstar pegs a much lower fair value near $780 billion, highlighting a wide valuation gap.
- The listing will create large numbers of employee millionaires, raise political and regulatory scrutiny including a public call from Senator Elizabeth Warren for SEC checks, and could force passive funds to buy shares quickly if SpaceX enters major indices.