SpaceX Could Open 30% of Its IPO to Retail Investors. Here’s How You Can Buy It

Elon Musk is reportedly preparing his aerospace company, SpaceX, for an initial public offering (IPO) that could allocate up to 30% of its shares to retail investors. The proposed structure would deviate from traditional IPO allocations, where institutional investors typically receive most of the shares in the initial offering before others can buy in.

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SpaceX IPO Targets Record-Breaking Valuation

According to a March 26 report, SpaceX is targeting a valuation of approximately $1.75 trillion, positioning its IPO among the largest ever attempted in public markets. The proposed 30% allocation for individual investors is at least three times the typical 5%-10% reserved for retail investors in standard public offerings.

Deal advisers had earlier expected retail participation to exceed 20%, but current discussions have since raised the allocation to 30%. Reports also suggest SpaceX could raise between $50 billion and $75 billion in the offering. If realized, that would make it the largest IPO in history, surpassing Saudi Arabia’s state oil company Aramco, which raised over $29 billion in its 2019 listing.

How Investors Can Buy SpaceX Shares

SpaceX has reportedly assigned roles to major banks for the allocation and sale of its IPO shares. The Bank of America (BAC) will focus on family offices and high-net-worth investors in the U.S., while Morgan Stanley (MS) will use its E*Trade platform to reach smaller individual investors. International distribution is expected to be handled by UBS (UBS) for global investors and Citigroup © for a mix of institutional and international retail clients.

SpaceX Chief Financial Officer (CFO) Bret Johnsen has communicated the structure to Wall Street, emphasizing a hands-on approach to bank selection rather than broad competition among underwriters. While the company could potentially file its IPO prospectus in late March or early April 2026, final allocation percentages and timing remain subject to change as discussions continue.

What is the Next Big IPO in 2026?

SpaceX is widely viewed as the leading candidate for the biggest IPO of 2026, driven by strong market anticipation and a multi-trillion-dollar valuation. Other major contenders include OpenAI, valued at roughly $830-$840 billion, and Anthropic, with estimates ranging from $230-$380 billion. Fintech giant Stripe, valued at around $120 billion, and data analytics company Databricks, valued at $134-$160 billion, are also among the most closely watched prospective listings.

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