Who Owns SpaceX?

12 June 2026 is a date many see as creating a new chapter in the US stock market. On this day, SpaceX, the aerospace company of billionaire Elon Musk, will begin trading on Nasdaq under the ticker "SPCX," with an expected valuation soaring to $1.77 trillion—surpassing all previous IPOs in history.

According to documents filed with the US Securities and Exchange Commission (SEC), the company has set its initial public offering price at $135 per share.

It plans to offer 555,555,555 shares, raising about $74.4 billion. Additionally, underwriters will have the right to purchase 83,333,333 more shares at the IPO price, potentially bringing total fundraising to $85.7 billion.

SpaceX, or Space Exploration Technologies Corp, was founded in 2002 with the initial goal of revolutionizing space transportation and colonizing Mars. It has since developed other products and services that generate substantial revenue, including Starlink, its satellite internet service, which is now the main revenue driver, and future investments in AI and data centers.

Over the past two decades, although SpaceX has been branded as a space business, a large portion of its funding has flowed into data centers and AI. In the first quarter of 2026 alone, AI investments accounted for more than 76% of total investments.

Many investors see this as people buying into the brand associated with Elon Musk more than truly investing in the space industry.

Therefore, SpaceX’s high valuation today reflects not only the potential of its space business but also investors’ confidence in Elon Musk’s reputation, vision, and influence, which have become valuable assets comparable to the company’s technology itself.

Who owns SpaceX before the IPO?

Looking at SpaceX’s ownership before the IPO, only Elon Musk and a few large private institutional investors had the opportunity to hold shares.

Based on information from SEC filings and KeepTrack.Space, the equity stakes in SpaceX are as follows:

• Elon Musk The company’s founder and CEO is the largest shareholder, holding 42% equity. He owns 12.3% in Class A shares and 93.6% in Class B shares, giving him total voting power of 85.1% before the IPO. After going public, he is expected to retain over 82% voting power.
  
  
• Employees Employees hold about 10%, including both vested and unvested stock options. This forms part of SpaceX’s compensation system to attract and retain top talent.
  
  
• Alphabet Google’s parent company is one of the major institutional investors, having invested since 2015. Based on SpaceX’s latest IPO valuation, Alphabet’s 5% stake would be worth approximately $75 billion.
  
  
• Fidelity One of the earliest and largest institutional backers supporting SpaceX’s growth, Fidelity invested alongside Alphabet with a combined $900 million. Fidelity also holds a 5% stake valued around $75 billion at the IPO price.
  
  
• Founder Funds Peter Thiel’s venture capital fund is among the earliest external investors believing in SpaceX’s vision. Holding about 2%, Founder Funds’ stake would be worth roughly $30 billion if SpaceX meets its IPO valuation target.
  
  
• Others The remaining approximately 36% is held by a diverse group of investors including venture capital funds, sovereign wealth funds, technology companies, and private equity funds worldwide.
  
  Key shareholders in this group include EchoStar, a telecommunications company with significant deals with SpaceX; xAI and shareholders linked to merger deals; Nvidia; Qatar’s sovereign wealth fund; Baillie Gifford; Andreessen Horowitz (a16z); along with numerous other private equity and sovereign wealth funds from various countries.

Related news:

• SpaceX sets IPO price at $135, valuing the company at $1.77 trillion; Elon Musk poised to become the world’s first trillionaire.
• Understanding SpaceX’s core business: Why the world bets on it despite no profits yet.

AI companies also planning IPOs around the same time.

SpaceX’s public offering coincides with major AI companies like OpenAI and Anthropic preparing their IPOs, prompting analysts to compare the situation to the dot-com bubble.

During that bubble, rapidly growing companies rushed to go public and sell shares to retail investors, causing stock prices to surge before a sharp correction and eventual bubble burst.

However, SpaceX’s current situation differs since it is only offering 5% of its total shares, roughly $75 billion worth, in this IPO.

Similarly, AI companies Anthropic and OpenAI are expected to start by selling only a portion of their shares.

If these IPOs proceed as planned, Anthropic and OpenAI will join SpaceX among the US mega tech corporations, potentially creating unprecedented economic, technological, and social influence globally.

Supporters believe these companies will drive major innovations in AI, space, energy, and communications, while critics warn that concentrating power, technology, and data in a few firms could give them more influence over the global economy and daily life than ever before.

If supporters’ visions come true, the world may be entering an era where giant AI and tech companies wield power and roles comparable to large nation-states.

Sources:SEC,KeepTrack,BBC

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