American billionaire Elon Musk’s SpaceX plans to raise a record-breaking $75 billion through its initial public offering (IPO). According to regulatory documents filed by the company, this listing would drive SpaceX’s valuation up to $1.765 trillion (about 7.078 trillion Malaysian ringgit).
Space Exploration Technologies Corp. (SpaceX) stated it plans to issue approximately 555 million new shares at a target price of $135 per share. If successfully listed, SpaceX will break the fundraising record set by Saudi Arabian energy giant Saudi Aramco, which raised $25.6 billion when it went public in 2019.
Based on around 1.3 billion shares outstanding, SpaceX’s post-IPO valuation will reach a staggering $1.765 trillion.
Analysts point out that, as the world’s richest person, Musk could become the first person in human history with a net worth surpassing $1 trillion.
This February, SpaceX acquired xAI, the artificial intelligence company founded by Musk. A year earlier, xAI had already merged with the social media platform X, formerly known as Twitter.
Media reports indicate that SpaceX’s remarkable valuation reflects not only the company’s current business performance but—perhaps more so—investors’ belief in Musk’s ability to deliver on what seem like science-fiction promises, such as sending humans to Mars and deploying data centers in space.
Founded in 2002, SpaceX broke new ground in commercial spaceflight. In 2012, SpaceX became the first private company whose spacecraft successfully docked with the International Space Station, and has since completed multiple cargo resupply missions. In 2020, SpaceX became the first private enterprise to send astronauts to the ISS.
Could Enrich Multiple U.S. Government Officials
According to Bloomberg, SpaceX’s IPO could significantly boost the net worth of several U.S. government officials.
The report notes that ten government officials—including Special Presidential Envoy Vaidikov and Interior Department Chief Information Officer (CIO) McKinney—have interests linked to SpaceX or its newly merged AI firm xAI.
The total valuation of SpaceX or xAI shares held by several federal officials ranges from $9.9 million to $43.8 million. These numbers were reported in disclosures last year, and it’s unclear if there have been changes since.
Of all the government officials, Interior Department CIO McKinney reportedly holds the most SpaceX shares, valued between $5 million and $25 million. McKinney was previously a SpaceX software engineer, providing support for early Dragon spacecraft and Falcon 9 rocket missions. During Musk’s tenure as head of the “Department of Government Efficiency” in 2025, McKinney was appointed Interior CIO. According to the documents, McKinney is not required to divest these assets and has received an ethics waiver to handle a broad range of SpaceX-related issues.