Musk eyes massive SpaceX float as rocket firm could go public in 2026 | US | News
Elon Musk is considering listing his rocket company SpaceX on the stock market, and talks are being held with bankers for a blockbuster stock market launch. Senior executives of the US rocket maker are selecting Wall Street bankers to advise on the firm’s initial public offering (IPO), according to reports.
Many investment banks will be making their presentations this week in what bankers call a “bake-off.” Employees were told last week that bosses were preparing for a possible IPO in 2026, the Wall Street Journal reported. “The thought is that if we act successfully and the markets cooperate, the IPO could raise a significant amount of capital,” Bret Johnsen, the company’s chief financial officer, told SpaceX staff in a message seen by the WSJ.
He added that the process remains “extremely uncertain.”
This marks the biggest step yet toward what could be one of the biggest IPOs of the year.
The IPO decision reportedly surprised people close to the company.
Over two decades, SpaceX has become a major contractor to the United States Government, launching both satellites and astronauts.
During this time, its valuation increased, driven by customer gains as internet service Starlink took off.
According to reports in the American media, the company was considering a second share sale worth approximately $800 billion to the company in December.
The chief financial officer told employees at the time that the company’s new stock price was $421 per share.
The potential IPO comes as the company plans to build AI data centers in space and continues to work on uncrewed and crewed missions to Mars.
Founded by South African-born billionaire Elon Musk, the company is now one of the world’s largest rocket manufacturers. It operates more than 9,000 satellites providing Starlink internet services worldwide.
SpaceX is a private company, so it doesn’t report its financials.
But earlier this year, Musk said he predicted the company would generate about $15.5 billion in revenue. As for X, the billionaire-owned social media platform, he said the firm’s “cash flow has been positive for many years.”
Musk is now in direct competition with tech mogul Jeff Bezos to launch data centers into space, amid an AI race in which rival space firms are spending billions of dollars on projects.
Mr. Musk is currently worth about $498.8 billion and is the richest person in the world as of 2021.
He made his first fortune from PayPal and became CEO of electric car maker Tesla, helping turn the company into the world’s most valuable car company.
