Bloomberg: SpaceX will set the price on June 15; employees have already been allocated shares with vesting schedules; the largest IPO in history with a valuation exceeding $2 trillion

SpaceX Moves Employee Stock Vesting Date Up from May to April, Fast-Tracking the Largest Ever IPO Valuation Exceeding $2 Trillion. Bloomberg Reports the Move Aims to Calm Employee Concerns Over Sell-Through Post-Listing, With Plans to File Public Disclosures in May and Price in the Week of June 15, Targeting Up to $75 Billion in Funding.
(Background: Elon Musk’s SpaceX IPO Developments — Talks with Bank of America, Goldman Sachs, and Other Major Banks on Listing Details, Potentially Breaking $30 Billion in Funding)
(Additional Context: SpaceX’s Valuation Has Increased Fivefold in a Year; Six Early-Stage Strategies for IPO Preparation: Purity, Costs, and Risks at a Glance)

Table of Contents

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• Early Vesting: Easing Employee Anxiety Over “How Much Can Be Sold”
• Largest IPO Ever: Valuation Over $2 Trillion, Targeting $75 Billion in Funding
• xAI Integration Challenges: Key Team Departures and Talent Poaching from Competitors
• Alphabet Holds Nearly $8B in Book Profits, Starlink Revenue Becomes Main Driver

Elon Musk’s aerospace company SpaceX is accelerating its push toward the largest IPO in history. Bloomberg, citing sources familiar with the matter, reports that SpaceX has moved the employee stock option vesting date from the originally scheduled May to April, with the change potentially taking effect as early as next week, clearing one of the final hurdles for a valuation exceeding $2 trillion in the IPO.

Early Vesting: Easing Employee Anxiety Over “How Much Can Be Sold”

Bloomberg states that the “vesting date” refers to the point when employees’ granted stock options become eligible for sale. SpaceX has informed employees that this date will be moved up from the expected May to April. Analysts interpret this accelerated vesting as a move to alleviate employee concerns about “how much stock they will be able to sell at the time of listing.”

Previously, liquidity options for SpaceX employees were quite limited — stock options could only be sold on the secondary market or during the IPO after vesting, and the company’s long-term private status meant early employees’ paper wealth remained unrealized for a long time.

Largest IPO Ever: Valuation Over $2 Trillion, Targeting $75 Billion in Funding

Bloomberg reporters outline the full timeline for SpaceX’s IPO. According to sources:

May: SpaceX plans to file its public registration statement with the U.S. Securities and Exchange Commission (SEC)
Week of June 15: IPO pricing scheduled
Funding goal: Up to $75 billion
Valuation target: Over $2 trillion

If successful, this would be the largest IPO ever, surpassing Saudi Aramco’s $256 billion record in 2019. Earlier this year, SpaceX acquired its AI subsidiary xAI through a fully stock-based deal, with the combined entity valued at approximately $1.25 trillion — meaning that in just a few months, the valuation has surged by about 60%.

xAI Integration Challenges: Key Team Departures and Talent Poaching from Competitors

Bloomberg also reports that while preparing for the IPO, SpaceX is busy rebuilding its AI division, xAI. After being acquired by SpaceX, xAI experienced a mass exodus of core employees and founders. The company is now reducing redundancies and actively recruiting from other AI firms to rebuild its team.

This personnel upheaval highlights the challenges Musk faces in integrating multiple companies — combining rocket launches (SpaceX), satellite internet (Starlink), AI research (xAI), and social media platforms (X) into a single balance sheet. While this can boost valuation potential, it also significantly increases management complexity.

Alphabet Holds Nearly $100 Billion in Book Profits, Starlink Revenue Becomes Main Driver

According to regulatory filings, Google’s parent company Alphabet’s early investments in SpaceX have now an unrealized book profit approaching $100 billion under current valuations, making it one of the biggest potential winners of this mega IPO.

Behind SpaceX’s soaring valuation is solid revenue support. Its satellite internet service Starlink has surpassed 10 million subscribers as of February 2026, with annual revenue estimated between $22 billion and $24 billion. Strong investor demand could also propel SpaceX to be quickly included in major indices like the Nasdaq 100 after listing, triggering passive fund buying effects.

For the crypto market, this $2 trillion mega IPO, if smoothly executed, could draw some risk capital away and redirect funds. Conversely, Musk’s successful listing might boost overall tech and risk asset sentiment, indirectly benefiting assets like Bitcoin. Attention will focus on the financial details disclosed in the SEC filings in May and whether the pricing window opens as scheduled in June.