SpaceX has captured the attention of media, investors, and the public for years due to the company’s reusable rocket launches, the rise of its Starlink satellite network, and, of course, the attention of founder and CEO Elon Musk.
But nothing in our 24-year history can compare to this IPO. Everyone seems to be interested, perhaps because of the size of this IPO. The company priced 555.6 million shares at $135 per share, raising $75 billion, making it the largest IPO in history. At this price, this transaction will likely make Musk the world’s first trillionaire.
TechCrunch has been following SpaceX’s beginnings, struggles, and successes since the beginning. And we’re here for what happens next. This article will be continuously updated with all the latest SpaceX IPO news.
How to Track the SpaceX IPO
For a proposition this large, there are a lot of financial machines working behind the scenes. So the first question is when will the stock hit the market and start trading? SpaceX is making its NASDAQ debut, and you can view the official NASDAQ listing here. As soon as it gets listed, it will have record prices. NASDAQ also has a video of the SpaceX crew ringing the bell.
But price is only part of the picture. For the most up-to-date information, it’s best to turn to financial media outlets like Bloomberg and CNBC. Both media outlets have live blogs and will closely report on any issues that arise in bringing the stock to market.
by numbers
Here we take a look at some of the bigger numbers, consequential figures, and eye-catching sums that make up a company’s S-1 form.
For example, SpaceX has over $18 billion in revenue and $4.9 billion in losses in 2025. That’s just a fraction of the more than $37 billion in losses SpaceX has suffered since its inception.
As CEO, Elon Musk holds approximately 85.1% of the company’s voting rights. You can read more about this in the next section, “Who Wins and Who Doesn’t”, which continues to show some interesting numbers.
Here’s another figure that caught our attention. It’s 4,400. According to the NYT, this is how many SpaceX employees could become millionaires.
Elon Musk Can’t Hear You Over the Sound of His $1.75 Trillion IPO: Equity podcast is weighing the IPO.
who wins and who doesn’t
SpaceX is the world’s largest IPO in history, and that means big paydays for some investors, employees, and, of course, Elon Musk.
How Elon Musk consolidates power through SpaceX IPO: Musk, who will have more than 50% of the voting rights, will have monarchical control over the publicly traded version of SpaceX. This is a lot more control than other tech startups enjoy.
Who will benefit most from a SpaceX IPO? Mostly Elon – and some of his inner circle.: Elon Musk holds the largest stake in SpaceX by billions of shares, but others are expected to win as well. Here’s a summary of who owns what:
SpaceX SPV investors won’t know their actual holdings until they are unlocked after the IPO.: After SpaceX makes its public debut, lower-tier SPV investors face hidden fees, long payment delays and the risk of outright fraud.
What’s in S-1?
The S-1 registration document gave the world an unprecedented look inside SpaceX, including its finances and various businesses. The S-1 continued to be revised as the IPO date got closer and we continued to work on that. Here’s what we found:
SpaceX IPO filing puts AI bets, Starship dreams, and Elon Musk at the center.: The SpaceX IPO details a business dominated by its Starlink satellite internet service, losses of more than $37 billion, and future business prospects through its xAI division.
After SpaceX’s S-1, the prospects for reuse of spacecraft look bleak.: SpaceX’s IPO and Starship rocket test flights delivered two big data points that offer a realistic vision for the next few years, and one that may disappoint both the company’s backers and critics.
SpaceX warns investors of future dilution, adds fuel to Tesla merger rumors: The company added new language to its S-1 to warn potential investors that there could be significant dilution after the IPO.
Pre-IPO Transactions and Events
Ahead of its IPO, SpaceX made a series of deals, mostly selling off computing to improve its balance sheet.
Anthropic pays $1.25 billion per month to xAI for computing.: First reported on the Anthropic deal on May 20th.
How long are SpaceX and Anthropic’s leases? Opinions vary: Elon Musk continues to downplay the length of SpaceX’s contract with Anthropic.
Google pays SpaceX $920 million a month for computing.: A Google representative described the deal as a short-term deal to address unexpected demand for its recently launched AI product.
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