SpaceX IPO shares are scheduled to begin trading on Nasdaq under ticker SPCX on Friday at $135 each, targeting a $75 billion raise and a $1.77 trillion valuation. The offering would make SpaceX the largest initial public offering in global financial history.
The deal also marks a major wealth event for employees who received equity as part of SpaceX’s long-running compensation strategy.
Investment platform Hill.com projected that more than 4,400 current and former SpaceX employees could become millionaires through accumulated stock options.
SpaceX employees will not be able to sell all shares immediately after the listing. The company’s S-1 prospectus uses a staggered liquidity plan, with the first employee-sale tranche opening 70 days after the IPO.
The structure aims to avoid the single 180-day lockup cliff often seen in technology IPOs. The listing has also drawn attention in Brownsville, Texas, near SpaceX’s Starbase launch facility.
Local brokerages said some SpaceX employees have started bidding for homes before their staggered share releases.
Read: Elon Musk Suggests SpaceX Could Go Public in 2026 IPO
SpaceX has reserved up to 30% of IPO shares, or about $22.5 billion, for retail investors through major brokerages.
Analysts have also flagged valuation and governance risks. At $1.77 trillion, SpaceX would trade at about 95 times its 2025 revenue of $18.67 billion. Elon Musk would retain a voting majority of 82% to 85% after the IPO.
