Elon Musk, founder of SpaceX, engages Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley for a potential mega IPO that could raise more than $30 billion as early as 2026.
SpaceX is taking another concrete step toward going public. Founder Elon Musk has tapped some of Wall Street’s biggest names, Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley, to play leading roles in a potential IPO, according to reports on January 22, 2026.
The rocket maker, still privately held, is aiming for a 2026 listing that could raise more than $30 billion. If successful, the offering would rank among the largest stock market debuts ever.
The move comes just weeks after a secondary share sale late last year that valued the company at around $800 billion. While more banks could still join the effort, people familiar with the matter say no final decisions have been made.
Bank Selection Signals Mega Scale
Behind the scenes, SpaceX’s IPO plans are taking shape. According to people familiar with the matter, four major banks are now leading the process, with Morgan Stanley benefiting from its long history of working with Elon Musk. The company has tightened internal communications as it prepares for a potential listing, limiting what employees can say publicly about the offering.
Separate reports have indicated that recent insider share sales valued SpaceX at about $800 billion. Some investors speculate that a significantly higher valuation in a future IPO could dramatically increase Musk’s net worth.
The timing is being helped by strong business momentum. Successful Starship test flights and the rapid growth of Starlink, now serving millions of users worldwide, have strengthened investor interest, as has SpaceX’s role in supporting Ukraine.
Valuation Trajectory from Private Rounds
SpaceX’s valuation surge started well before IPO talk heated up. In November 2024, the company reached a $350-billion valuation from a funding round led by BlackRock and Sequoia, a sharp jump from earlier levels.
The rise has been fueled by growing revenues, estimated at $8 billion in 2025, along with steady income from NASA contracts and new defence satellite deals.
Musk has also outlined ambitious plans for the future. Speaking at Davos, he floated ideas that could involve using future capital to support AI-driven infrastructure projects. Separately, regulatory conditions have become more favourable, with Starlink securing key approvals from the US Federal Communications Commission, removing another hurdle as SpaceX prepares for a potential public listing.
Strategic Timing Amid Competitors
The timing of a potential 2026 IPO is no accident. SpaceX is looking to tap public markets while enthusiasm for AI and space technology is running high, and competitors like Blue Origin remain a step behind.
Going public would give the company a deep pool of capital to push forward its long-term goals, including missions to Mars and possible links with Elon Musk’s Optimus robotics project.
In the run-up to a listing, SpaceX has already allowed employees to cash out some of their holdings through tender offers, a familiar step for companies preparing to enter the public markets.
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