Elon Musk’s rocket and satellite giant is moving closer to what could become the largest stock market debut in history. And it could deliver a major windfall for early Gulf backers.
SpaceX, which combined with AI startup xAI last month, is planning to submit a confidential draft registration to the US Securities and Exchange Commission as early as this month, Bloomberg reported. A March filing may position the Texas-based company for a June market debut.
The listing could value SpaceX at more than $1.75 trillion, Bloomberg reported, dwarfing previous IPO records and marking one of the most consequential market events in years. The discussions remain fluid and the timeline could shift.
📌 Why it matters for Gulf investors
Several Middle Eastern companies took stakes in SpaceX years ago, and now stand to benefit if the listing proceeds near the mooted valuation.
Kuwait’s Zain Group invested roughly $50 million in SpaceX about four to five years ago. The telecom operator disclosed around $80 million in unrealized gains on that position in the fourth quarter. In 2022, Abu Dhabi-listed International Holding Company and Alpha Dhabi Holding each committed $25 million to SpaceX.
And then there is another cohort who are riding the SpaceX wave via xAi: Abu Dhabi’s MGX, Qatar Investment Authority and Saudi AI investor Humain. They all invested in Musk’s AI startup.
A successful IPO at the upper end of expectations would significantly lift the paper value of those holdings and reinforce the Gulf’s expanding role as a long-term capital partner to frontier technology companies.
📌 Bottom line
A record-breaking SpaceX debut would not only reshape global equity markets — it could crystallize years of strategic Gulf investment in private US tech, turning relatively modest early bets into outsized gains and strengthening the region’s position in the next phase of the space economy.
Read More:
