Elon Musk Denies Report That SpaceX Cut IPO Valuation Target to $1.8 Trillion

Elon Musk on May 30, 2026 publicly refuted a Bloomberg report that SpaceX had lowered its IPO valuation target to at least $1.8 trillion, down from over $2 trillion. Responding on social platform X to a post citing the report, Musk posted a single word: “False.” The denial comes amid heightened anticipation that SpaceX could move toward a public listing as early as June 2026. SpaceX is widely expected to have confidentially submitted a draft S-1 registration, positioning it as one of the most closely watched IPOs in recent years. SpaceX’s satellite internet business, Starlink, drove full-year 2025 revenue to $18.7 billion. However, heavy investment in the Starship rocket program and artificial intelligence initiatives has pressured near-term profitability.