SpaceX’s $1.77 Trillion IPO Makes History

The Numbers: Price, Shares, and Valuation

SpaceX opted for a fixed-price offering rather than a variable book-build. The SEC filing confirmed 555.6 million shares at $135 each, targeting $75 billion in proceeds . Some reports noted that the exact figure could land at $74.4 billion depending on final settlement, but the $75 billion headline held across most major outlets covering the pricing . Underwriters also retained a 30-day option to purchase an additional 83.3 million shares, which could add another $11.2 billion to the total raised .

The $1.77 trillion valuation was calculated against roughly 13.08 billion shares outstanding, meaning the public float represented only about 4.2% of the company . That unusually small slice of equity is what allowed SpaceX to achieve a trillion-dollar-plus valuation while raising a record amount on day one .

How It Toppled Saudi Aramco’s Record

Saudi Aramco’s December 2019 IPO held the previous title for the world’s largest public offering at $29.4 billion raised—a record that stood for nearly seven years. SpaceX’s $75 billion raise more than doubled that figure . The New York Times reported that the final pricing reflected an increase of over 40% from SpaceX’s own self-assessed valuation of $1.25 trillion from earlier in 2026, underscoring the intense demand for a pure-play space and satellite broadband company .

The Banking Syndicate Behind the Mega-IPO

Managing an offering of this scale required a deep bench of Wall Street banks. Goldman Sachs secured the coveted “lead-left” position on the prospectus, signaling its role as the primary underwriter . Morgan Stanley followed closely and also served as the stabilization agent, the bank responsible for supporting the stock price in the aftermarket .

The other top-tier bookrunners were Bank of America, Citigroup, and JPMorgan Chase, listed in alphabetical order on the preliminary prospectus . In total, 23 financial institutions were named as bookrunners, a syndicate that included Wells Fargo and UBS among others, underscoring the breadth of the capital-raising effort . SpaceX reportedly code-named the entire undertaking Project Apex during the planning phase .

A 2026 Debut, Not a 2025 Fantasy

It’s worth noting that these details date to 2026, not 2025. Multiple reports from April through June 2026 point to the same timing: pricing on June 11, trading beginning June 12 on the Nasdaq Global Select Market and Nasdaq Texas, and settlement expected by June 15 . The SEC declared the registration effective on June 11, just one day after Senator Elizabeth Warren requested regulators delay the listing—a request that did not stop the IPO from proceeding as scheduled .

What Remains Unclear

This confirmed timeline omits several claims that circulated around the IPO but could not be independently verified. These unconfirmed points include:

• Whether demand was more than four times oversubscribed (with over $250 billion in total investor interest and over $100 billion in retail orders).
• Whether Elon Musk’s post-IPO net worth crossed the $1 trillion threshold, making him the world’s first recorded trillionaire.
• Comments attributed to SpaceX President Gwynne Shotwell regarding a potential future merger with Tesla.
• The characterization of this IPO as the first of three major 2026 listings alongside separate offers from OpenAI and Anthropic.

All those claims would require additional sourcing to confirm, so readers should treat them as unverified for now, even though the core pricing and structural details are well-documented across major news organisations and an SEC filing.