Musk's SpaceX to raise over $25 bn in 2026 IPO

ELON MUSK'S SPACEX is looking to raise more than $25 billion through an initial public offering in 2026, a move that could boost the rocket-maker's valuation to over $1 trillion, a person familiar with the matter told Reuters on Tuesday.

- ECHO WANG, MANYA SAINI & JUBY BABU

The company's move towards a public listing, which could rank among the largest global IPOs, has been largely driven by the rapid expansion of its Starlink satellite internet business, including plans for direct-to-mobile service and progress in its Starship rocket programme for moon and Mars missions.

SpaceX has started discussions with banks about launching the offering around June or July, the person said, requesting anonymity to discuss confidential information.

The company did not immediately respond to a Reuters request for comment.