SpaceX will go public next year, aiming for a valuation of more than $1 trillion, Bloomberg reported.
The Elon Musk-led company was the first to successfully reuse rockets, bringing the cost of space travel down by around 90%; it accounted for more than half of global launches in 2024. Its broadband arm Starlink also represents most active satellites. It is expected to make $15 billion in revenue in 2025, rising to perhaps $26 billion next year.
A $1 trillion valuation on those figures would be extremely high: The only IPO at that figure was Saudi Aramco in 2019, and it had revenues of $300 billion. But SpaceX hopes Starlink, its near-monopoly on reusable rockets, and its many government contracts will justify a premium.