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Morgan seen as front- runner for SpaceX IPO
The Sunday Guardian
|December 21, 2025
Morgan Stanley is emerging as a leading contender for a key role in SpaceX's blockbuster initial public offering, as the bank's close ties to CEO Elon Musk give it an edge in his decision, according to three people familiar with the matter.
A selection process, or "bake-off," for the IPO is still underway, with a select group of banks, including Morgan Stanley (MS.N), Goldman Sachs (GS.N) and JPMorgan, vying for roles, four people familiar with the matter said, adding that there is no certainty Morgan Stanley will secure the coveted "lead left" underwriting position, the sources said.
Musk's ties to Morgan Stanley run deep, dating back at least 15 years, leaving it widely viewed as the leading contender to run the syndicate of underwriters, three of the people said, though no banks have been selected yet and the discussions remain fluid.
This story is from the December 21, 2025 edition of The Sunday Guardian.
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