SpaceX is scheduled to become a publicly traded company on the Nasdaq this Friday, marking what is expected to be the highest-value stock listing in history. According to a filing with the US Securities and Exchange Commission, the space exploration and artificial intelligence company sold $75 billion in shares priced at $135 each. At this valuation, the firm’s initial market value is expected to be nearly $1.8 trillion, a figure that would make chief executive Elon Musk the world’s first trillionaire. While the initial price is set at $135, the final trading price will be determined by market demand and the number of shares available for sale. Some financial analysts have already set higher target prices; for instance, the global brokerage Oppenheimer stated on Thursday that it expects the company to reach $190 per share. The listing is being viewed by some as a test case for other private companies with valuations nearing $1 trillion, such as Anthropic and OpenAI, both of which have indicated plans to go public this year. Despite the transition to a public company, Musk will retain nearly total control of the firm. Through a combination of Class A and Class B shares, Musk will hold roughly 40% of the total equity but maintain more than 84% of the voting power. This level of control is significantly higher than Mark Zuckerberg’s voting control at Meta. Because of this structure, SpaceX will not be required to have any “independent” members on its board of directors. An analysis from Harvard Law School noted that this consolidated control creates potential risks for investors, as SpaceX insiders will be able to make decisions regarding business deals, including acquisitions of other Musk-owned entities and his own compensation. SpaceX has already acquired Musk’s startup xAI, which in turn acquired the social media platform X in 2025.