Elon Musk's SpaceX raises $75bn ahead of record stock market debut

BBC reported that SpaceX confirmed late Thursday in a closing meeting in New York that it had completed a $75bn private placement and that shares would begin trading on Nasdaq on Friday. The company said pricing at the mid-point of the range would imply a market value of $1.8 trillion, eclipsing the record set by Saudi Aramco in 2019.

A syndicate led by Goldman Sachs and Morgan Stanley, joined by JPMorgan, Bank of America and Citigroup, was named in the prospectus. BBC, citing people close to the syndicate, said investor demand reached roughly six times the available stock and that the retail allocation had been trimmed below 20 per cent. Sovereign funds including Norges Bank and Singapore's GIC were reported to have taken sizeable tickets.

SpaceX listed its principal business lines as the Starlink satellite internet service, the Falcon and Starship launch vehicles and missions flown for the Pentagon and NASA. BBC said the prospectus reported $9.4bn of revenue in the first half of 2025 but that Starship development spending still produced a net loss. Not investment advice.