I must say, the stats coming from the SpaceX IPO are remarkable. But first, as you read this post, please keep in mind that I am in no way endorsing the IPO. I am just fascinated by the facts. In a later post, I’ll comment more deeply on its valuation and where it stands in the current cycle. But first, the stats:

SpaceX is reportedly targeting a valuation near $2 trillion. That would make it the largest IPO ever by valuation. At that level, it could raise $50–75 billion.

That would make it the largest IPO ever by proceeds. It could mint more new billionaires than any liquidity event in history.

It could also create 3,000+ employee millionaires, especially across Texas facilities like Starbase where equity compensation has been a major part of the story.

And Elon Musk, who reportedly owns around 42%, could become the first person with $1 trillion in asset net worth.

But at the same time: SpaceX revenue hit roughly $18.7 billion in 2025 and it’s still unprofitable. Of course, many companies have IPO’d that were not profitable and later on became the giants of the market.

Here are the largest IPO valuations in recent memory:

1. SpaceX — ~$2T target
2. Saudi Aramco — ~$1.7T
3. Alibaba — ~$200B
4. Facebook / Meta — ~$100B
5. Uber — ~$75B
6. NTT DoCoMo — ~$75B
7. AT&T Wireless — ~$68B
8. Rivian — ~$65B
9. UPS — ~$60B
10. DiDi Global — ~$60B

Interesting!

More on SpaceX later.

These are the stats that define global markets.

Know them.

Study them.

Prepare accordingly.