Elon Musk responds to report of SpaceX targeting over $2 trillion valuation in IPO

Tesla CEO Elon Musk has responded to a recent report claiming that the tech billionaire-owned space company SpaceX is targeting more than $2 trillion valuation in a potential IPO. Quoting a Bloomberg report, X user Mario Nawfal shared a post writing “SpaceX boosted its IPO target valuation above $2 trillion.

Under Elon’s bold leadership, the company is now aiming for one of the largest public offerings in history”. “This new target reflects the extraordinary progress Elon has driven across rockets, Starlink, and AI, positioning SpaceX as one of the most valuable companies on Earth as it prepares to go public,” he wrote further.Elon Musk, CEO of SpaceX replied to the post writing “Don’t believe everything you read. Bloomberg publishes bs”.SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale. A recent Bloomberg report said that SpaceX is gearing “up to pitch potentially the biggest-ever market debut”. The publication cited people familiar with the matter. “At more than $2 trillion, SpaceX’s valuation would increase by nearly two thirds in a matter of months,” the report said.

“It will also be bigger than all but five of the companies in the S&P 500 Index — Nvidia Corp., Apple Inc., Alphabet Inc., Microsoft Corp. and Amazon.com Inc. It would be larger by that metric than Meta Platforms Inc. and Musk’s own Tesla Inc., the two other members of the so-called Magnificent 7 stocks,” it added.

SpaceX files confidentiality for IPO

The space company has reportedly filed confidentially for an IPO that could take place in June this year. As per the Bloomberg report, Spacex submitted its draft IPO registration to the US Securities and Exchange Commission (SEC) earlier this week. With a June listing, Spacex is likely to be first among the trio of mega-IPOs expected in 2026, including ahead of arch-rivals OpenAI and Anthropic. Reports suggest that SpaceX could seek a valuation in the IPO of more than $1.75 trillion. After its acquisition of xAI in early February, SpaceX was valued at $1.25 trillion. The company is considering a dual-class share structure in the listing that would potentially give insiders such as Musk extra voting power to dominate decision making.