Elon Musk’s SpaceX is reportedly plotting an initial public offering that would value the rocket-launch company at a valuation of $1.5 trillion around mid-June to coincide with a planetary alignment and Musk’s 55th birthday.
Per an FT story, the world’s richest man is eyeing a float window when Jupiter and Venus will appear close to each other in the sky, just ahead of his own solar return on 28 June.
The reported $50 billion raise would be the largest ever IPO fundraise, dwarfing Saudi Aramco’s $29 billion haul in 2019, albeit still falling short of the oil giant’s $1.7 trillion valuation.
Banks allegedly on the pad for the offering include Goldman Sachs, JPMorgan, Bank of America and Morgan Stanley.
SpaceX’s CFO, Bret Johnsen, has been doing the investor rounds since December to test the water for a mid-2026 launch.
SpaceX earns its keep sending satellites into orbit, restocking the ISS, and rolling out Starlink, its satellite internet constellation.
Musk, who owns about 42% of SpaceX, has previously said the firm brought in $15.5bn in revenue last year.
The float would, incidentally, boost Musk’s net worth beyond its already-lofty $680 billion orbit.
It would also provide more certatinty around the value of stakes held in the private company by several funds, including FTSE 100-listed Scottish Mortgage Investment Trust PLC, together with Edinburgh Worldwide Investment, Baillie Gifford US Growth Trust, Schiehallion Fund Limited, RIT Capital Partners and Cathie Wood's ARK Venture Fund.
In December, following reports about the IPO, fund manager Baillie Gifford hiked the value of stakes held by Scottish Mortgage, Edinburgh Worldwide and Baillie Gifford US.