Finance
Morningstar Values SpaceX at $780B — Musk's $1.75T IPO Dreams Doused
Morningstar analysts assess SpaceX at $780 billion, less than half Elon Musk's $1.75 trillion IPO target, ahead of month-end public offering for 3% of shares seeking $50-80B for Starlink
By 19Network Editorial Team · Jun 3, 2026 · 5 min read
SpaceX just got slapped with a bearish valuation ahead of its monster IPO coming up later this month, with Morningstar analysts assessing the company at just $780 billion, far below Musk's expectations.
Morningstar analysts have valued SpaceX at $780 billion, less than half the $1.75 trillion valuation Elon Musk is reportedly targeting for the company's upcoming initial public offering. This bearish assessment comes ahead of SpaceX's monster IPO scheduled for later this month, creating potential tension between company expectations and analyst reality checks. SpaceX plans to offer 3 percent of shares in the public offering, seeking to raise between $50 billion and $80 billion for Starlink expansion and artificial intelligence infrastructure development. The IPO would value the rocket company at Musk's target of $1.75 trillion, significantly higher than Morningstar's $780 billion assessment, suggesting potential disappointment for investors expecting astronomical returns. Morningstar's conservative valuation reflects concerns about SpaceX's ability to deliver on ambitious timelines and revenue projections. The analysis considers Starlink's competitive satellite internet market, Starship development costs, and government contract dependencies that could impact long-term profitability despite current market enthusiasm. The valuation gap between Morningstar's $780 billion and Musk's…