Elon Musk Calls Bloomberg’s $2 Trillion SpaceX IPO Report “BS”: Unpacking the Hype, Valuations, and What Comes Next

Key Takeaways

• Elon Musk labeled Bloomberg’s $2 trillion SpaceX IPO valuation report as “BS” on X.
• Bloomberg claimed SpaceX confidentially filed for IPO, potentially raising $75B, citing anonymous sources.
• Influencer Mario Nawfal amplified the report on April 2, 2026, sparking controversy.
• Post-xAI merger, SpaceX valuation hit $1.25T; earlier estimates exceeded $1.75T.
• SpaceX achievements include Starlink satellites, Falcon 9 reusability, Starship for Mars, and NASA/DoD contracts.
• IPO could enable retail investment but add scrutiny and quarterly pressures.
• Musk has repeatedly downplayed inflated valuations, like prior $800B claim.
• Starlink IPO teased, but focus remains on engineering over timelines; media speculation persists.

In the high-stakes world of space exploration and billionaire entrepreneurs, few stories generate as much electricity as SpaceX’s long-anticipated IPO. On April 2, 2026, Bloomberg dropped a bombshell report claiming SpaceX had confidentially filed for an IPO, initially targeting a staggering $1.75 trillion valuation and later boosting it above $2 trillion—potentially raising up to $75 billion in the largest public offering ever. ❶ ❷ Influencer Mario Nawfal quickly amplified the news on X, igniting a firestorm of speculation. ❸ But Elon Musk, never one to mince words, swiftly dismissed it as “BS” on the platform, urging followers, “Don’t believe everything.” ❹ ❺

As a blogger who’s tracked Musk’s ventures for over a decade—from Tesla’s near-death experiences to Starship’s explosive tests—this latest drama is classic Elon: bold innovation meets media overreach. Is Bloomberg’s report pure fabrication, or is there fire behind the smoke? In this deep dive, we’ll dissect the claims, explore SpaceX’s post-xAI merger valuation trajectory, revisit key achievements, weigh IPO pros and cons, and offer investor insights. Buckle up; we’re launching into the facts.

The Bloomberg Bombshell: What Exactly Did They Report?

Bloomberg’s April 1-2, 2026, articles painted a picture of SpaceX accelerating toward a mid-2026 public debut, possibly as early as June. ❷ Key details included:

• Confidential SEC Filing: SpaceX allegedly submitted draft registration statements privately, a common step for high-profile IPOs to avoid early market volatility. ❻
• Valuation Jump: Starting at $1.75 trillion (up from $1.25 trillion post-xAI merger), then reportedly hiked above $2 trillion—nearly two-thirds higher in months. ❶ ❼
• Fundraise Potential: Up to $75-80 billion, dwarfing even Facebook’s record $16 billion IPO in 2012. ❻
• Sources: Anonymous insiders, a staple in such reports but often fueling Musk’s ire.

Mario Nawfal’s X post, quoting Bloomberg, went viral: “SpaceX boosted its IPO target valuation above $2 trillion. Under Elon’s bold leadership…” This sparked retail investor frenzy on platforms like Reddit’s WallStreetBets. ❽

H3: Why Now? Timing Ties to Starlink Boom and AI Synergies SpaceX’s momentum stems from Starlink’s explosive growth (projected $18.7B revenue in 2026, 80% YoY) ❾ and the February xAI merger, blending rockets with AI for orbital data centers. ❿

Elon Musk’s Fiery Rebuttal: “BS” and a History of Valuation Skepticism

Musk’s one-word takedown—”BS”—came hours after Nawfal’s post, directly targeting Bloomberg’s escalation to $2 trillion. ❹ He’s no stranger to this:

• In December 2025, he confirmed a 2026 IPO but targeted “above $1 trillion.” ⓫
• Previously dismissed an $800B valuation as inflated.

Musk prioritizes engineering over Wall Street timelines, often teasing Starlink spin-off IPOs separately while keeping SpaceX private to avoid quarterly pressures. ⓬

Opinion: Musk’s dismissals protect against hype bubbles. Remember Tesla’s 2020 valuation surge? It worked, but SpaceX’s $2T claim feels like analyst fever dreams detached from fundamentals.

SpaceX Valuation Journey: From $1.25T Post-Merger to IPO Dreams

SpaceX’s worth has skyrocketed:

H3: The xAI Merger Deep Dive Announced February 2, 2026, SpaceX acquired xAI (Grok’s parent) in a $250B all-stock deal, creating a “vertically integrated” powerhouse for AI-powered space tech. ⓮ ⓱ Musk’s memo emphasized synergies like AI-optimized launches and satellite data centers. ⓲ Critics worry about conflicts (Musk’s empire spans Tesla, X, Neuralink), but it vaults SpaceX ahead of rivals like Blue Origin.

Current consensus (April 4, 2026): ~$1.25T-$1.5T private valuation, with IPO multiples reflecting Starlink’s 79% revenue share. ❾

SpaceX’s Rocket Fuel: Achievements Powering the Hype

No valuation talks without results. SpaceX dominates:

1. Starlink: 7,000+ satellites, 4.6M subscribers, $12.3B 2025 revenue—global broadband disruptor. ⓭
2. Falcon 9 Reusability: 300+ launches, slashing costs 10x vs. competitors.
3. Starship: Mars-ready prototype, NASA Artemis contracts.
4. Government Wins: $billions from DoD, NASA; xAI adds AI edge. ⓳

H4: Risks in the Rearview Delays (Starship explosions), regulatory hurdles (FCC spectrum fights), and competition (Amazon’s Kuiper).

IPO Pros, Cons, and Investor Advice

Pros:

• Retail access: Musk eyes 30% for individuals. ⓴
• Capital for Mars/Starlink V3.
• Liquidity for employees.

Cons:

• Quarterly scrutiny stifles long-term bets (Musk’s mantra).
• Valuation pop then drop? Analysts say $1.75T is 30% overpay.[21]

Advice for Investors:

1. Don’t Chase Hype: Wait for S-1 filing; secondary markets (e.g., UpMarket) offer pre-IPO shares now ($50K min). ⓭
2. Diversify: Allocate 5-10% portfolio; pair with ARKX ETF.
3. Starlink Watch: Separate IPO likely post-2026 if SpaceX lists first.[22]
4. Long-Term Bet: SpaceX isn’t just rockets—it’s humanity’s multi-planetary future.

Starlink’s Solo Spotlight: Separate IPO on the Horizon?

Musk has hinted at Starlink IPO “once revenue proven,” potentially 2027+.[23] With 2026 forecasts at $18.7B, it could standalone at $500B+.

Outlook: IPO Inevitable, But on Musk’s Terms

SpaceX will go public in 2026—Bloomberg got that right—but $2T? Musk says BS, and history backs him. ❺ Expect a $1.5T-$1.8T debut, fueling Starship and AI ambitions.

Final Thoughts: This saga underscores media’s role in inflating narratives. As investors, focus on milestones: Next Starship flight? Starlink subs? That’s the real BS detector. SpaceX isn’t a stock—it’s a civilization-scale bet. Stay skeptical, stay informed.