The SpaceX headquarters is shown in Hawthorne, California, United States on June 5, 2025.
Daniel Cole | Reuters
That of Elon Musk SpaceX has confidentially filed for an IPO with the Securities and Exchange Commission, sources told CNBC’s David Faber, bringing That of Elon Musk rocket company one step closer to what is expected to be a record public offering.
Bloomberg was the first to report on SpaceX’s confidential filing, citing people familiar with the matter and adding that the company could seek a valuation of $1.75 trillion.
Founded by Musk in 2002 to develop and operate reusable rockets, SpaceX has become NASA’s largest launch partner after the agency. finished its space shuttle program in 2011. The company merged with Musk’s xAI in February, creating a combined entity which he estimated at the time at $1.25 trillion.
When SpaceX finally goes public, Musk will become the first person to run two separate publicly traded companies worth trillions of dollars. Musk is the richest person in the world, with a net worth of nearly $840 billion, according to Forbes. Teslawhich Musk has relied on for the vast majority of his liquid wealth, has a market capitalization of around $1.4 trillion.
A confidential filing allows companies to submit their financial data to the SEC for regulatory review before revealing it to the public and potential investors. SpaceX will have to at least publish a public file 15 days ahead of its IPO road show.
Although SpaceX still has many hurdles to clear to reach the public market, the offering – assuming it happens – is full of superlatives. With the company reportedly seeking to raise as much as $75 billion, which would be more than three times the size of the largest U.S. IPO to date. China Alibaba raised $22 billion in 2014, putting it ahead of Visawhich raised nearly $18 billion in 2008.
SpaceX has received more than $24.4 billion through its work with the federal government since 2008, according to FedScout, which studies federal spending and government contracts. This includes contracts from NASA, the Air Force and the Space Force, among other agencies.
WATCH: SpaceX filed a confidential IPO application