SpaceX, with a corporate valuation of 1.182 quadrillion KRW... Can the largest IPO in history be realized?

As the leading company in space exploration and satellite industry, American SpaceX is officially considering an initial public offering (IPO) next year, with the company’s valuation currently estimated at approximately 1.2 quadrillion Korean Won. This ranks among the top in global startups, and if the listing plan is realized, it could become the largest IPO in history.

Founded by Elon Musk, SpaceX recently disclosed in a letter to shareholders its plans to go public and the corresponding fundraising strategy. CFO Brett Johnson revealed that the company completed a stock transaction at a price of $421 per share, raising up to $2.56 billion. Based on this, the estimated company valuation is approximately $800 billion, equivalent to about 1,182 quadrillion Korean Won. This figure is second only to OpenAI among private companies worldwide.

Funds raised through the IPO will be invested in SpaceX’s future medium- and long-term projects. Johnson specifically outlined the use of funds in the letter, including expanding Starship launch capabilities, building the lunar base “Alpha,” conducting crewed and uncrewed Mars exploration, and establishing a space-based AI data center. This is interpreted as a strategic move aimed at strengthening the commercialization of space and laying the foundation for human extraterrestrial exploration.

According to reports from Bloomberg and Reuters, SpaceX may raise up to $30 billion (about 44.3 trillion Korean Won) through the IPO. If achieved, it would surpass the approximately $29 billion record set by Saudi Aramco in 2019, making it the largest IPO in history.

However, the specific timing of the listing has not yet been determined. Johnson stated, “We are preparing with the possibility of going public in 2026, but whether we will finally list, as well as the exact timing and company valuation, remain uncertain.” External factors such as U.S. stock market volatility, interest rates, and global investor sentiment heavily influence this.

This trend is likely to promote the future expansion of the private-led space industry and ignite a wave of earlier IPOs among well-funded private companies with strong technological capabilities. Especially for enterprises that rely on technological innovation to attract large investments, the IPO market is expected to become a more active growth channel.