SpaceX is reportedly preparing to go public at a valuation exceeding $1.5 trillion, setting the stage for what could become the largest IPO in history and further elevate Elon Musk’s standing among the world’s wealthiest individuals.
The rocket and satellite company confirmed its plans in a newly filed S-1 registration statement with the U.S. Securities and Exchange Commission, offering investors an early detailed look at one of the most valuable private companies ahead of a public listing expected as soon as next month.
According to the filing, SpaceX held 18,712 Bitcoin (BTC) on its balance sheet as of March 31, valued at approximately $1.29 billion at the time. With Bitcoin trading near $77,000, those holdings would now be worth roughly $1.45 billion. The company’s crypto exposure places it among a small group of major corporations with meaningful Bitcoin reserves. Elon Musk’s Tesla also holds 11,509 BTC, while Michael Saylor’s Strategy remains the largest corporate holder with 843,738 BTC.
SpaceX is reportedly targeting a valuation above $1.5 trillion, with some reports suggesting it could reach as high as $2 trillion. If achieved, the company would immediately rank among the world’s top 10 most valuable public companies alongside Apple, Microsoft, and Nvidia. At the upper end, the listing could also surpass Saudi Aramco’s 2020 IPO, which raised $29.4 billion and valued the company at about $1.7 trillion.
Investor interest is expected to be strong, driven by SpaceX’s dominant position in commercial spaceflight and its rapidly expanding Starlink satellite internet business. The company has built a leading edge through reusable rocket technology and a global satellite network that continues to scale quickly.
The S-1 filing also provides a rare window into SpaceX’s financials, including revenue growth, capital expenditures, legal risks, and ownership structure. Investors have been closely watching for details on governance and how much control Elon Musk will retain after the company goes public. The filing shows revenue rising to $18.7 billion in 2025, up from $14 billion in 2024.
SpaceX also highlighted its broader technological ambitions, including artificial intelligence, framing it alongside its core businesses as part of a potential “trillion-dollar market opportunity.”
Musk already leads Tesla, xAI, and the social media platform X, making SpaceX one of the most closely watched tech listings in years. He will continue to serve as CEO, Chief Technical Officer, and Chairman of the board after the IPO.
However, SpaceX is not the only major listing in the pipeline. OpenAI and Anthropic are also reportedly exploring public offerings, raising the possibility of multiple high-profile AI and tech IPOs entering the market around the same period.
If these listings coincide, analysts suggest capital rotation into new equity offerings could temporarily draw liquidity away from risk assets such as cryptocurrencies, as investors reallocate toward high-profile public market debuts.
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