SpaceX IPO: Key Facts and Insights

SpaceX has held the attention of media, investors, and the public for years — driven by its reusable rocket launches, the expansion of Starlink, and, of course, its founder and CEO Elon Musk.

But in its 24-year history, nothing compares to this IPO. Everyone seems interested, perhaps because of its sheer scale. The company priced 555.6 million shares at $135 each, raising $75 billion — making it the largest IPO ever. At that price, the deal could also make Musk the world’s first trillionaire.

TechCrunch has tracked SpaceX’s early days, challenges, and triumphs. We’re also here for what comes next. This article will be continuously updated with the latest SpaceX IPO news.

How to track the SpaceX IPO

With such a large offering, considerable financial infrastructure works behind the scenes — so the first question is when the stock will actually hit the market. SpaceX is debuting on NASDAQ; you can find the official listing here, which will show the record price as soon as it's available. NASDAQ also has a video of the SpaceX team ringing the bell, if that interests you.

But price is only one factor. For the latest information, financial news outlets like Bloomberg and CNBC are your best bet — both have live blogs and will cover any hiccups as the stock comes to market.

By the numbers

Here we examine some of the larger numbers, the consequential figures, and the eye-watering amounts in the company's S-1 filing.

For example, SpaceX lost $4.9 billion on revenue exceeding $18 billion in 2025. That’s just a fraction of the more than $37 billion lost since the company’s founding.

As CEO, Elon Musk controls about 85.1% of the company’s voting power. You can read more in the next section, “Who wins and who doesn’t” — and we’ll keep adding interesting numbers here.

Here’s another figure that caught our attention: 4,400. That’s the number of SpaceX employees who could become millionaires, according to the New York Times.

Elon Musk can’t hear you over the sound of his $1.75 trillion IPO: The Equity podcast weighs in on the IPO

Who wins and who doesn’t

SpaceX’s IPO is the largest in history, delivering a huge payday for some investors, employees, and, of course, Elon Musk.

How Elon Musk will increase his power through the SpaceX IPO: Musk, holding more than 50% of voting power, will have a monarch-like grip on the publicly traded SpaceX — control far beyond what other tech founders typically enjoy.

Who benefits most from the SpaceX IPO? Mostly Elon — and a few from his inner circle: Elon Musk holds the largest stake in SpaceX by billions of shares, but others also stand to gain. Here's a breakdown of who owns what.

SpaceX SPV investors won't know their true holdings until post-IPO lock-ups expire: After SpaceX goes public, lower-tier SPV investors face hidden fees, extended payout delays, and the risk of outright fraud.

What’s in the S-1

The S-1 registration document offered an unprecedented look inside SpaceX, covering its financials and various business lines. The document was amended as the IPO date neared, and we tracked each change. Here’s what we found.

The SpaceX IPO filing is packed with AI bets, Starship dreams, and Elon Musk at the center: The filing reveals a business dominated by Starlink satellite internet, over $37 billion in losses, and future prospects through its xAI division.

Starship’s path to reusability appears uncertain after SpaceX’s S-1: The IPO and Starship test flight provided two key data points that paint a realistic picture of the coming years — one that may disappoint both supporters and critics.

SpaceX warns investors about future dilution, fueling Tesla merger rumors: The company added new language to its S-1, cautioning prospective investors that significant dilution could occur after going public.

Pre-IPO deals and events

In the lead-up to the IPO, SpaceX secured a series of deals, mostly selling compute capacity to strengthen its balance sheet.

Anthropic will pay xAI $1.25 billion per month for compute: Initial coverage of the Anthropic deal on May 20.

How long is Anthropic’s lease with SpaceX? Opinions vary: Elon Musk continues to downplay the length of the SpaceX-Anthropic contract.

Google will pay SpaceX $920 million per month for compute: A Google representative described the deal as short-term, addressing unexpected demand for its recently launched AI products.