Elon Musk’s SpaceX is advancing plans for what could become the largest initial public offering in American history, a blockbuster deal that would propel the world’s richest man toward an unprecedented trillion-dollar net worth.

The California-based space manufacturer, which Mr. Musk founded in 2002 with the goal of enabling humans to live on Mars, is targeting a 2026 IPO that could raise more than $30 billion and value the company at $1.5 trillion, according to Bloomberg. Mr. Musk and SpaceX’s board of directors have reportedly already begun laying the groundwork, advancing fundraising plans and key personnel hires.

Should the deal proceed as planned, Mr. Musk’s stake in SpaceX would surge to an estimated value of $625 billion — nearly five times its current value of approximately $136 billion. Combined with his holdings in Tesla, the social media platform X, neurotechnology company Neuralink, artificial intelligence venture xAI, and other investments, Mr. Musk’s total net worth would reach $952 billion, positioning him within striking distance of the trillion-dollar threshold.

The IPO represents just one avenue through which Mr. Musk could achieve trillionaire status. Tesla shareholders recently approved a record-breaking compensation package that could award him up to $1 trillion in stock over the next decade, contingent on the electric vehicle manufacturer meeting a series of aggressive performance targets.

Meanwhile, Mr. Musk and Tesla are embroiled in a Delaware courtroom battle to reinstate his previous $56 billion compensation package, which a Delaware Chancery Court judge invalidated in January 2024. The case is now with the Delaware Supreme Court, which heard arguments in October 2025.