SAN FRANCISCO, United States – In what is set to become the largest initial public offering (IPO) in Wall Street history, Elon Musk’s rocket and satellite manufacturing giant, SpaceX, has officially filed regulatory paperwork for its stock market debut.
Okay News reports that the blockbuster market debut was unveiled on Wednesday, May 20, 2026, with the company selecting the Nasdaq exchange to trade under the ticker symbol SPCX. While the regulatory S-1 filing did not explicitly disclose the exact fundraising target, financial sources indicate the company is aiming to raise roughly $75 billion to $80 billion, a move that would value the aerospace behemoth at an unprecedented $1.25 trillion to $1.75 trillion.
If the public offering prices anywhere near this target, it will comfortably shatter the previous global record held by Saudi Aramco’s $29.4 billion listing in 2019, as well as Alibaba’s $21.8 billion U.S. record from 2014. Because Musk retains a dominant majority ownership stake and handles 85% of the company’s voting power through a dual-class share structure, the listing is projected to push his personal net worth well past $1 trillion—officially crowning him the world’s first-ever trillionaire. The paperwork also opens a rare window into the company’s dense financials, revealing that while SpaceX brought in a massive $18.6 billion in revenue last year, it carried a net loss of $4.9 billion alongside $60.5 billion in debt, driven by heavy, ongoing capital expenditure for its Starship megarocket program.
The blockbuster filing reveals a highly complex entity that extends far beyond aerospace hardware. Following a structural shift earlier this year, SpaceX now fully houses Musk’s controversial artificial intelligence startup, xAI, which is being completely absorbed and rebranded as SpaceXAI. The prospectus lists significant legal headwind disclosures, including half a billion dollars in projected legal costs stemming from multiple high-profile deepfake and copyright infringement lawsuits against its Grok chatbot. Despite these risks, the offering has ignited immense excitement across Wall Street, with financial institutions like Goldman Sachs, Morgan Stanley, and JPMorgan Chase lining up as joint bookrunners to market the deal ahead of the expected mid-June launch.
