Elon Musk's SpaceX eyes historic stock market debut which could make him world's first trillionaire

Elon Musk’s space company SpaceX is set to make its stock market debut on Friday in what is expected to be the largest flotation on record.

The company, formally known as Space Exploration Technologies Corp, is carrying a valuation of $1.8trillion (£1.3trillion) ahead of its planned listing on the Nasdaq.

The offering is expected to further strengthen Mr Musk’s position as the world’s richest person.

According to Forbes, his wealth stands at $826billion (£619billion), with his SpaceX stake alone estimated at $542billion (£406billion).

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Final pricing will be confirmed after the close of US trading.

The flotation consists of 555.6 million shares priced at $135 (£101) each, with SpaceX aiming to raise $75billion (£56.2billion).

The company says the proceeds will support the deployment of 100,000 next‑generation Starlink satellites and the development of in‑orbit artificial intelligence data centres.

Around 30 per cent of the shares have been allocated to retail investors rather than being reserved solely for institutions.

Kathleen Brooks, research director at XTB, said the move reflected Mr Musk’s strong following among private investors and the growing influence of retail traders.

“The retail trading community contributes 20 to 30 per cent of daily volume in major developed markets like the UK and the US,” she said.

Retail trading activity reached record levels in early 2026, with monthly volumes across global brokerage platforms expected to hit $37trillion (£28trillion) by year‑end.

Despite strong demand, some analysts have questioned SpaceX’s valuation.

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SpaceX generated $18.67billion (£14billion) in revenue in 2025, up a third on 2024, but still posted a $4.94billion (£3.7billion) loss.

Revenue is forecast to rise to $25billion (£18.8billion) in 2026.

Analysts have highlighted uncertainty over longer‑term revenue growth and profitability.

The prospectus identifies business‑focused artificial intelligence products as a key commercial opportunity, but questions remain over when the xAI division — merged with SpaceX earlier this year — will become profitable.

Demand for shares has reportedly exceeded supply by a factor of four.

Susannah Streeter, head of money and markets at Wealth Club, said the flotation could influence sentiment across the wider technology sector.

“It could trigger yet another wave of erratic buying and selling across the tech sector,” she said, adding that investors were already repositioning portfolios ahead of the debut.

“A stronger, more durable debut may boost confidence in high‑growth technology companies and encourage investors to increase exposure to related sectors across artificial intelligence and aerospace,” she said.

“But a disappointing start could spark another spurt of profit‑taking across the sector.”

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