Elon Musk's Space Exploration Technologies Corp. (SpaceX) is set to make history with what is expected to be the world's largest initial public offering (IPO), after pricing its shares at $135 apiece and offering more than 555 million shares to investors.
At the IPO price, Musk's stake in SpaceX is estimated to be worth more than $860 billion. Combined with his holdings in Tesla and other ventures, estimates suggest his net worth could exceed $1.1 trillion once trading begins—potentially making him the world's first trillionaire.
The blockbuster offering is expected to raise about $75 billion and values the rocket, satellite, and artificial intelligence company at approximately $1.77 trillion, surpassing the previous IPO record set by Saudi Aramco, which raised $29 billion at a $1.7-trillion valuation in 2019.
Founded by Musk in 2002, SpaceX has transformed the space industry through reusable rocket technology and its Starlink satellite internet business. Earlier this year, Globe Telecom Inc. signed a memorandum of agreement with Starlink to introduce the first Direct-to-Cell (DTC) satellite service in the Philippines and Southeast Asia.
The service will allow Filipinos using standard LTE mobile phones to access essential data services, messaging, app-based voice calls, and SMS, with Starlink's constellation of more than 650 low-Earth orbit satellites providing coverage geographically isolated and disadvantaged areas.
Despite enthusiasm surrounding the IPO, some analysts have questioned SpaceX's valuation. Regulatory filings showed the company posted a $4.9-billion loss in 2025, reversing a $791-million profit recorded a year earlier as spending on artificial intelligence projects accelerated. Revenue, however, grew 33 percent to $18.7 billion.
SpaceX recently acquired xAI, the developer of the AI chatbot Grok. The platform came under scrutiny from the Department of Information and Communications Technology and was temporarily banned in January after acknowledging that its system was being exploited to generate malicious content involving real individuals, including celebrities and politicians.
Although Grok was subsequently modified and later unbanned in the Philippines, several jurisdictions—including Indonesia, Malaysia, South Korea, the United Kingdom, France, and the European Union—have restricted or banned the platform, citing cybersecurity and public safety concerns.
Trading under the ticker symbol SPCX is scheduled to begin in the United States on Friday, meaning Philippine investors will see the stock debut on Saturday because of the time difference.
