The global IPO market has needed a win for years and Elon Musk's SpaceX could be the breakthrough. The last company to make a market debut at over a trillion dollar valuation was Saudi Aramco in 2019, reports Reuters.
An over "trillion-dollar" valuation, a CEO with a cult-like retail following and exposure to a high-growth industry - SpaceX has the elements the IPO market has sought to end a years-long drought in mega-deals. But whether investors have the appetite for a listing of this size remains uncertain. Besides, the company is so unique that its success could have limited spillover on broader market sentiment, analysts and experts said.
"It's either a bellwether or a harbinger," Brian Jacobsen, chief economic strategist at Annex Wealth Management, told Reuters.
He added that there is enough enthusiasm around the business to attract investor interest, but it might be so singular, with its celebrity CEO, that it could actually hurt other space stocks rather than lift them by attracting all the attention.
The rocket startup has confidentially filed for a blockbuster listing, looking to raise $50 billion or more, which could value it at $1.75 trillion, potentially dethroning oil giant Saudi Aramco as the world's largest IPO.
"SpaceX will be far and away the largest IPO in history at the sizes being discussed now," said Samuel Kerr, global head of equity capital markets at deals data provider Mergermarket.
"It will be a real test for public market capacity at a time of real market turmoil. But if any business can list in this market, its probably SpaceX given the tremendous hype."
SpaceX seen as make-or-break test for IPOs
FE Team | Published: April 01, 2026 22:41:05
SpaceX seen as make-or-break test for IPOs
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