“False”: Musk Denies Bloomberg Report About SpaceX IPO Valuation Drop

Summary:

• Musk says the Bloomberg report is “false” 

• SpaceX Reportedly Lowers IPO Valuation Target, as per Bloomberg

Musk Rejects Bloomberg Report 

Yet again, corporate media is pushing fake news against Elon Musk.

This time, Musk called a Bloomberg report that cited unnamed sources and claimed SpaceX had lowered its IPO valuation target “false.” 

False

— Elon Musk (@elonmusk) May 29, 2026

SpaceX Reportedly Lowers IPO Valuation Target 

SpaceX is targeting a valuation of at least $1.8 trillion in its upcoming initial public offering, Bloomberg reported, citing people familiar with the matter. This is below an earlier goal of more than $2 trillion.

In practice, the initial IPO valuation target is a marketing range, not a final number. Therefore, any valuation shifts ahead of the trading day would not be unusual. This suggests advisers are calibrating the deal to what investors are willing to absorb, especially given the massive proposed raise of up to $75 billion.

The target is settling lower after consultations with advisers and investors, the people said, asking not to be identified as the information isn’t public.

Details of an IPO, such as size and valuation, are typically adjusted ahead of pricing based on feedback from stakeholders, the people said.

SpaceX is seeking to raise as much as $75 billion, people familiar with the matter have said, which would make it the biggest IPO of all time. -BBG

The May 21 SpaceX S-1 filing revealed that Elon Musk’s space company is much more than a reusable-rocket and satellite-internet company. It now encompasses AI services, infrastructure, orbital data centers, and a claimed $28.5 trillion total addressable market.

Earlier this month, Reuters reported that the IPO is set to price on June 11, with a June 12 debut. The stock is expected to list on Nasdaq and Nasdaq Texas under the ticker “SPCX.”

Polymarket bets show a 90% chance that SpaceX’s market capitalization will be $1.8 trillion on the IPO date.

There was speculation earlier this week of a SpaceX-Tesla merger in 2027. Wedbush Securities’ Dan Ives has those odds at 80%.