Gulf sovereign wealth funds are set to invest heavily in SpaceX’s upcoming IPO, potentially making it one of the largest stock market launches in history.
Saudi Arabia’s Public Investment Fund is in discussions for a significant commitment of up to $5 billion, a contribution that would position it as a key player in a deal aiming to raise around $75 billion. Such an investment would boost SpaceX’s valuation to between $1.7 trillion and $1.77 trillion, surpassing most publicly traded companies globally.
In comparison, SpaceX's valuation would exceed that of all public companies save for a select few. Additionally, the target fundraising amount would break the previous record set by Saudi Aramco, which generated about $25.6 billion during its IPO in 2019.
#Which Gulf Investors Are Involved?
A number of Gulf investment entities, including Abu Dhabi’s MGX and Mubadala, the Qatar Investment Authority, and the Oman Investment Authority, have significant interests in SpaceX and Elon Musk's ventures, with their combined investments estimated to range from $15 billion to $17 billion at IPO pricing. Furthermore, Prince Alwaleed bin Talal’s Kingdom Holding boasts a stake in SpaceX valued at approximately $4.5 billion as of March 2026, stemming from prior investments related to Twitter.
SpaceX reportedly filed for its IPO in May 2026, with a possible Nasdaq listing as soon as June under the ticker SPCX.
#What Are the Implications for Investors?
The prospect of raising $75 billion at a valuation exceeding $1.7 trillion establishes a new benchmark for how private companies can transition into public entities in the tech industry. However, investors should be aware of the potential geopolitical implications. A significant Gulf ownership stake in a firm that holds sensitive U.S. government contracts, including those tied to national security, may draw scrutiny from regulatory bodies and lawmakers, resulting in CFIUS reviews and congressional focus.
To maintain its elevated valuation and deliver returns for investors post-IPO, SpaceX will need to sustain robust growth rates, particularly in its Starlink revenue and launch contract pipeline. It remains critical for the company to demonstrate progress that justifies its worth as one of the largest public companies.