Elon Musk’s SpaceX has reportedly tapped four major banks to lead what is expected to be one of the largest initial public offerings of all time.
Bank of America, Goldman Sachs, JPMorgan Chase and Morgan Stanley are all expected to play “senior roles” in the IPO, according to reports that cited people familiar with the matter. Other unnamed banks could also land roles in the transaction.
Top executives at Musk’s firm, known for its rocket launches and Starlink satellite internet service, have stepped up meetings with prospective bankers in recent days, the Financial Times reported. SpaceX is expected to go public as soon as this year.
The Post has reached out to SpaceX for comment.
The company is aiming to raise more than $30 billion from public investors at a valuation of about $1.5 trillion, Bloomberg reported in December. If that valuation holds, it would push Musk’s personal net worth close to $1 trillion or higher.
The company’s chief financial officer Bret Johnsen confirmed to employees that month that SpaceX could go public at some point in 2026, though he stressed that the exact timing of a deal and whether it would happen at all remained “highly uncertain.”
“The thinking is that if we execute brilliantly and the markets cooperate, a public offering could raise a significant amount of capital,” Johnsen said in an internal memo obtained by The Wall Street Journal at the time.
Johnsen also confirmed that SpaceX was separately conducting a secondary share sale that would set a pre-IPO valuation of $800 billion. That would affirm SpaceX as the world’s most valuable privately-held company.
SpaceX will need the influx of cash as it looks to pursue a number of Musk’s pet projects – including eventual plans to return to the Moon, establish a colony on Mars and launch data centers for artificial intelligence into space.
