SpaceX IPO pushes Elon Musk closer to $1 trillion net worth

The race to produce the world’s first trillionaire is increasingly tied to space, and Elon Musk moved closer to that milestone this week after SpaceX confidentially filed for what could become the largest initial public offering on record. The listing, expected as early as June, is projected to value the company at about $1.75 trillion and raise roughly $75 billion.

Musk nears $1 trillion with IPO

That figure would surpass the $29 billion raised by Saudi Aramco in 2019, which remains the biggest IPO to date. If completed, the deal would mark a key moment for global markets and push Musk closer to a fortune never before recorded. Musk, who co-founded Tesla, SpaceX and artificial intelligence startup xAI, has a net worth of $809 billion, according to Forbes.

With roughly 43 percent ownership in SpaceX, a $1.75 trillion valuation would sharply increase the value of Musk’s stake. That could narrow the gap between his current wealth and the $1 trillion threshold. The possible listing is drawing attention not only because of its size but also because investors are increasingly focused on companies that combine artificial intelligence, communications infrastructure and space-based services.

SpaceX xAI merger valued $1.25 trillion

Founded in 2002, SpaceX has expanded from a launch provider into a major operator in global connectivity and computing infrastructure. In February 2026, SpaceX acquired xAI in a transaction that valued the combined company at $1.25 trillion. Musk retained an estimated 43 percent stake in the merged entity. The deal positioned SpaceX at the center of two fast-growing businesses: artificial intelligence and satellite communications.

The confidential filing, which suggests a valuation above $1.75 trillion, reflects renewed investor demand for companies tied to advanced technology and infrastructure. SpaceX’s Starlink satellite network now serves millions of users worldwide and generates recurring revenue from subscriptions and government agreements. Those contracts have strengthened the company’s financial profile ahead of a potential listing.

The addition of xAI deepens SpaceX’s reach across communications, computing and artificial intelligence. Investors increasingly view these capabilities as essential infrastructure, similar to cloud computing and broadband networks that reshaped markets over the past decade. The proposed IPO also underscores the expanding role of private space companies in defense, communications and global connectivity.

Private holdings drive Musk valuation gap

Wealth estimates for Musk vary depending on how private holdings are valued. While Forbes places his net worth at $809 billion, the Bloomberg Billionaires Index estimates it at $636 billion. The difference reflects varying assumptions for privately held assets. SpaceX was valued at about $800 billion in a December 2025 tender offer, while xAI was valued at roughly $230 billion in a January 2026 funding round, bringing the combined value to about $1.03 trillion.

Although the merger itself was calculated at $1.25 trillion, that figure was not used in wealth calculations because Musk controlled both companies and no new capital was raised. A 5 percent discount is also applied to private holdings. Even with those adjustments, a SpaceX IPO could become one of the most significant financial events in recent years.

For Musk, the listing represents another step toward a $1 trillion fortune. For investors, it highlights growing interest in companies linking artificial intelligence, communications and space-based services. For global markets, the offering could set a new benchmark and reshape how large technology companies are valued.