Gary Zhou 
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:
| Milestone | Valuation | Key Driver |
|---|---|---|
| Pre-2026 Tender Offer | ~$210B | Starlink subscribers hit 4M+ ⓭ |
| Feb 2026 xAI Merger | $1.25T ($1T SpaceX + $250B xAI) | AI integration for Mars/AI data centers ⓮ ⓯ |
| April 2026 IPO Target (Reported) | $1.75T-$2T+ | Starlink revenue, DoD contracts ⓰ |
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:
- Starlink: 7,000+ satellites, 4.6M subscribers, $12.3B 2025 revenue—global broadband disruptor. ⓭
- Falcon 9 Reusability: 300+ launches, slashing costs 10x vs. competitors.
- Starship: Mars-ready prototype, NASA Artemis contracts.
- 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:
- Don’t Chase Hype: Wait for S-1 filing; secondary markets (e.g., UpMarket) offer pre-IPO shares now ($50K min). ⓭
- Diversify: Allocate 5-10% portfolio; pair with ARKX ETF.
- Starlink Watch: Separate IPO likely post-2026 if SpaceX lists first.[22]
- 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.
