The biggest initial public offering in history – the US$75 billion SpaceX (NASDAQ: SPCX) raise – is now open for share applications, and Australians can get in on the action, but they'll have to move fast.
The company's shares are scheduled to start trading on the NASDAQ Exchange in the US on June 12, and at the US$135 issue price, the company will be valued at about US$1.75 trillion.
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Local offer has opened
Australian investors can apply for shares in the SpaceX IPO through CommSec, which just yesterday updated its trading site to say it is now accepting applications.
The broker said:
CommSec is acting as the Lead Australian Retail Broker to the Australian Offer. CommSec is expected to receive an allocation of Shares for CommSec clients who are Australian residents. The Australian Offer is being made under an Australian prospectus that was lodged with ASIC on 4 June 2026.
Applications for SpaceX shares are due by 5pm on 10 June, but CommSec warns it may close applications early.
Investors applying through CommSec also need an international shares account with the broker.
Historic wealth creation
The SpaceX IPO looks set to cement Elon Musk's status as the richest man on earth, and aligns with his ambition to send humans to Mars.
The SpaceX prospectus reads in parts more like a science fiction to-do list than a business document, saying, for example, "Our mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars''.
A more down-to-earth bridge the company will need to cross at some stage is achieving profitability, with only one of its three divisions currently operating in the black.
The company comprises the space, connectivity, and AI divisions, with only connectivity at this stage turning a profit.
SpaceX overall posted a US$2.59 billion loss on revenue of US$18.7 billion in 2025. For the first three months of 2026, the Space division lost US$662 million, the AI division lost US$2.47 billion, and the connectivity division made a profit of US$1.19 billion.
Investors will also need to be comfortable with Mr Musk controlling the company with little real oversight from anyone else, with his 82.4% shareholding in the voting stock of the company virtually guaranteeing full control.
Mr Musk is named as "founder, Chief Executive Officer, Chief Technical Officer and Chairman of our board" in the prospectus.
