Elon Musk attends the U.S.-Saudi Investment Forum in Washington, D.C., on Nov. 19. A SpaceX IPO could see him running multiple listed companies valued at more than US$1-trillion.

Elon Musk’s SpaceX is looking to raise more than US$25-billion through an initial public offering in 2026, a move that could boost the rocket-maker’s valuation to over US$1-trillion, a person familiar with the matter told Reuters on Tuesday.

The company’s move towards a public listing, which could rank among the largest global IPOs, has been largely driven by the rapid expansion of its Starlink satellite internet business, including plans for direct-to-mobile service and progress in its Starship rocket program for moon and Mars missions.

SpaceX has started discussions with banks about launching the offering a

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