SpaceX Left California. Its IPO Payday Did Not.
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BETAThis is a BETA experience. opt-out hereInnovationTransportationDaily CoverSpaceX Left California. Its IPO Payday Did Not.Illustration by Fernando Capeto for Forbes; Photos by Suzanne Cordeiro/AFP/GettyImages; Ronaldo Schemidt/AFP/Getty ImagesByAlan Ohnsman,Senior Editor. Senior editor covering cleantech and advanced mobilityFollow AuthorJun 08, 2026, 06:30am EDTThe company’s June 12 IPO, valuing it at around $1.8 trillion, should boost tax revenue in the Golden State because thousands of newly wealthy employees who live and work there face a “millionaires” tax. Meanwhile, Texas doesn’t tax personal income at all.
