Seven minutes after lift-off from the Texas launchpad, the largest rocket ever built was falling back to Earth. Then its engines reignited, slowing the descent until the 70-metre booster was captured by a pair of mechanical arms nicknamed 'Mechazilla' – a feat never before achieved. In the SpaceX control room, engineers erupted in cheers. Elon Musk, watching from his social media platform, called it 'a big step towards making life multiplanetary'. The reusable rocket, he said, would slash the cost of sending cargo to orbit, the Moon and eventually Mars.
That was 13 October 2024. Now, less than two years later, Musk is preparing to sell shares in his private space company to the public. On 12 June, SpaceX will debut on the Nasdaq in what is being billed as the biggest stock market launch in history. The company plans to sell 555.6m shares at a valuation of $135 each, raising $75bn (£56bn). Up to a quarter of those shares could be reserved for individual investors – a far larger slice than typical for a major IPO.
“SpaceX's June 12 IPO could make Elon Musk the world's first trillionaire, with UK investors allocated £1.5bn of shares.”
In the UK, retail investors are expected to be allocated around £1.5bn worth of shares. More than one UK stockbroker has reported a 'surge' in interest, according to the BBC, and platforms such as AJ Bell and Hargreaves Lansdown are offering clients the chance to bid. 'While we recognise this IPO might not be right for everyone, it’s an exciting moment for many of our clients,' said Simon Belsham, chief client officer at Hargreaves Lansdown. 'We’re expecting this might be a first foray into investing for many.' Minimum subscriptions are typically about £1,000, with applications closing on 11 June – the day the final share price is set.
Even those who do not apply directly may soon own a piece of SpaceX anyway. Recent changes to Nasdaq rules mean the company could quickly appear in index tracker funds, and UK investment trusts such as Edinburgh Worldwide and Baillie Gifford US Growth already hold stakes.
The IPO is expected to push Musk’s net worth past $1tn, making him the world’s first trillionaire, according to Forbes. He became the first person to exceed half a trillion dollars in October 2025, and Tesla shareholders later approved a record-breaking pay deal that could be worth $1tn.
Musk, born in Pretoria, South Africa, and a university drop-out who founded two tech start-ups during the 1990s dotcom boom, has long drawn comparisons with the fictional billionaire inventor Tony Stark. His first wife, Justine Musk, wrote in 2010 that 'the will to compete and dominate, that made him so successful in business, did not magically shut off when he came home.'
But his controversial political interventions – including a key role in Donald Trump’s 2024 election victory and frequent comments about UK and European affairs – have come at a cost. Analysts attributed slumps in Tesla sales in 2025 partly to customers turning against Musk. The SpaceX IPO may offer ordinary investors a chance to bet on his vision, but the risks are as large as the rocket that made it all possible.