Bloomberg Notify me• Jun 13, 2026• 12:06Interview

Why Musk Raced to Take SpaceX Public in the World’s Biggest IPO

From Bloomberg

David Gura(Bloomberg podcast host and analyst)•Christina Ruffini(Bloomberg reporter and analyst)•Elon Musk(CEO, Tesla, SpaceX, xAI)•Loren Grush(Space and technology industry analyst,…)•Bailey Lipschultz(senior reporter)•Lisa Mateo(Host and news reporter for Bloomberg)•Jim Chanos(Noted short-seller and investor)

Executive Summary

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12 quotes

Valuation is detached from current financials and based on future 'hopes and dreams'.
The entire business model is critically dependent on achieving the technologically difficult goal of full Starship reusability.
A large supply of stock from lock-up expirations later in the year could create downward pressure on the price.
Significant reliance on U.S. government contracts presents a potential risk from political or budgetary changes.

De facto monopoly in the critical U.S. space launch market.
Rapidly growing revenue from the Starlink satellite internet business, which has already surpassed launch revenue.
First-mover advantage and deep expertise in reusable rocket technology.
Potential to become a foundational infrastructure provider for future space-based industries and AI.

SpaceX conducted the largest initial public offering (IPO) in history.

The business economics of SpaceX's Starship rocket are likely not viable without achieving full reusability, according to the company's prospectus.

Following its IPO, SpaceX is one of the 6th or 7th largest companies in the world by valuation.

SpaceX's stock closed its first day of trading at approximately $161 per share, a 19% increase from its IPO price.

The SpaceX IPO was oversubscribed by a factor of four to five times.

The IPO price for SpaceX stock was set at a fixed price of $135 per share.

Retail investors were allocated approximately 20% of the SpaceX IPO, totaling $15 billion.

Jim Chanos asserts that neither Tesla nor SpaceX are valued based on their current business operations.

SpaceX currently holds a de facto monopoly on heavy-lift launch services with its Falcon 9 rocket.

SpaceX pioneered the commercial use of reusable rocket technology.

SpaceX is currently the only provider capable of transporting U.S. astronauts to the International Space Station from American soil.

SpaceX's IPO prospectus identifies "Customer A," believed to be the U.S. government, as one of its largest customers.

Processed Jun 13, 2026Daily intelligence brief → yt-dlp + mlx-whisper + Gemini