SpaceX Shareholders Approve 5-for-1 Stock Split, Signaling IPO Preparation

SpaceX shareholders have approved a 5-for-1 stock split recommended by the company's board, Bloomberg News reported, citing people familiar with the matter. The split, if implemented, would lower the per-share price of SpaceX's private secondary-market shares — currently valued at implied prices above $200 per share on platforms like Nasdaq Private Market — making them more accessible to a broader investor base ahead of any public listing.

SpaceX operates two growth engines: its Falcon 9 and Starship launch business, which dominates commercial and government payload delivery; and Starlink, its satellite internet service, which has surpassed 7 million subscribers globally. The company's annualized revenue is estimated above $15 billion for fiscal 2025, with Starlink approaching profitability as a standalone business. On secondary markets, SpaceX's implied valuation has exceeded $200 billion, placing it among the most valuable private companies in the world alongside ByteDance and Anthropic.

A stock split is not a direct IPO precondition. However, the timing carries two clear implications: (1) adjusting employee equity compensation to improve retention ahead of a liquidity event; and (2) setting a lower per-share price that broadens retail investor demand post-IPO. Historically, pre-IPO splits by high-profile companies have been followed by public offerings within 18 months.

The news arrived in the wake of Cerebras's +70% first-day IPO pop on May 15 — a signal that public market appetite for elite AI and deep-tech companies remains insatiable. Wall Street expects SpaceX, OpenAI, and Anthropic to represent three of the largest U.S. IPOs in history when they eventually list.

Watch for: SpaceX's formal S-1 filing with the SEC; underwriter mandate (Goldman Sachs and Morgan Stanley are frequently cited); and exchange choice (NYSE vs. Nasdaq).