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SpaceX is preparing a monumental IPO that could value the company well into the trillions and raise up to $75 billion, offering public investors a stake in Elon Musk’s integrated vision of launch services, satellites, AI and cloud capabilities — including proposed in-space data centers. Analysts caution the plan is capital-intensive, technically complex and laden with regulatory and execution risks, while Bloomberg reports Musk stands to gain enormous wealth from internal compensation arrangements tied to such growth. The offering could accelerate commercialization of space-based services but would expose investors to frontier-technology uncertainties and long timelines.
A SpaceX IPO with in-space data center ambitions could reshape cloud, satellite and AI infrastructure, creating new markets and partnerships while shifting capital and talent flows in aerospace and cloud industries.
Dossier last updated: 2026-05-31 03:02:35
Danish pension fund AkademikerPension said it will blacklist SpaceX and not participate in the upcoming IPO or any secondary-market purchases, calling the company “grossly overvalued” and criticizing its “catastrophic governance structure.” CIO Anders Schelde flagged Elon Musk’s ~85% voting control via dual-class shares, his combined CEO/CTO/chair roles, and provisions that limit shareholder recourse as reasons to exclude SpaceX — estimating a realistic valuation closer to $1 trillion versus the $1.8 trillion target. Larger U.S. public pension funds have raised similar governance concerns. AkademikerPension’s move is symbolic rather than market-moving for a potentially $75bn raise, but underscores institutional unease about governance and investor protections in high-profile tech listings.
Danish pension fund AkademikerPension said it will blacklist SpaceX and refuse participation in the company's IPO and any secondary-market purchases, calling SpaceX "grossly overvalued" and citing a "catastrophic governance structure." CIO Anders Schelde objected to Elon Musk’s roughly 85% voting control via a dual-class share system and Musk’s roles as CEO, CTO and board chair, arguing public shareholders would lack meaningful influence. The stance echoes larger US pension funds that criticized SpaceX’s management-favorable governance in a joint letter. AkademikerPension has previously divested from Tesla and US Treasuries for governance and policy reasons. Its exclusion is symbolic but unlikely to derail the planned large retail-focused offering.
SpaceX is preparing a June IPO that could become the largest ever, seeking up to $75 billion and valuing the company at least $1.8 trillion. The offering would let public investors buy into Elon Musk’s broad vision to fuse space operations with AI and cloud capabilities, including proposals for in-space data centers. Analysts warn the plan is ambitious and capital-intensive, with long timelines, technical and regulatory risks, and high execution uncertainty. The IPO would reshape the space and tech investment landscape by bringing a major launch, satellite, and AI-integrated infrastructure player into public markets, potentially accelerating commercialization of space-based services while exposing investors to frontier-technology risks.
马斯克有望从SpaceX的薪酬方案中获得7600亿美元 - Bloomberg.com