Why it matters. A record-setting IPO of this size reshapes global equity markets and signals how much investors are willing to bet on the commercial space industry.
Background. The figures here come from a Korean report citing Reuters; international readers should note the won conversion (113.8 trillion won) reflects how the story was framed for a South Korean audience, where SpaceX and Elon Musk attract heavy coverage. Aramco, the 2019 record-holder mentioned for comparison, is Saudi Arabia's state oil company, and its IPO had long stood as the benchmark for the largest-ever offering.
What to watch next. Watch how SpaceX shares trade on their Nasdaq debut and whether demand validates the company's roughly $1.77 trillion valuation.
The Largest IPO in History
SpaceX, Elon Musk’s aerospace company, set the price for its initial public offering at $135 per share on June 11 local time, Reuters reported, locking in a figure that puts the listing on track to become the biggest IPO ever recorded. By selling 555.56 million shares at that price, the company will raise roughly $75 billion (about 113.8 trillion South Korean won).
That total would surpass the previous record of $29.4 billion set by Saudi oil giant Aramco in 2019, making SpaceX’s debut the largest public offering in history. The stock is scheduled to begin trading on June 12 on the Nasdaq and on Nasdaq Texas.
An Unusual Path to Listing
Companies preparing to go public almost always announce a price range first, letting demand from institutional investors settle the final number during a roadshow. SpaceX broke with that convention, naming a fixed preliminary price of $135 per share well in advance — and then confirming it without change. The move signals unusual confidence in investor appetite for one of the most closely watched private companies of the past decade.
At the offering price, SpaceX would be valued at about $1.77 trillion, placing it comfortably inside the top 10 most valuable publicly listed companies in the world.
Who Controls the Company
SpaceX’s founder and chief executive, Elon Musk, remains the largest shareholder. Through a dual-class share structure that grants certain stock extra voting power, Musk will hold roughly 84% of the voting rights after the IPO — meaning that even as the company opens to public investors, control stays firmly in his hands. Such structures are common among founder-led technology firms, which use them to raise capital without surrendering decision-making authority.
The second-largest shareholder is Valor Equity Partners, a US private investment firm and longtime SpaceX backer. Two senior executives also rank among the major shareholders: Gwynne Shotwell, the company’s president and chief operating officer, who has run day-to-day operations for years, and Bret Johnsen, the chief financial officer.
Why It Draws Global Attention
SpaceX has spent years as the dominant force in commercial spaceflight, and a public listing of this scale would mark a milestone not only for the company but for the broader space economy. The combination of a record-breaking raise, a trillion-dollar-plus valuation, and Musk’s retained control makes the offering one of the most significant market events of the year.
