SpaceX is slated to list on Friday with a $135‑per‑share price that values the rocket maker near $1.8tn. The offering will raise about $75bn, setting a record for the largest IPO ever. Investors who backed Elon Musk’s vision two decades ago now stand to cash in on one of venture capital’s biggest exits. The deal reshapes benchmarks for future space‑sector offerings.

Founders Fund, co‑founded by Peter Thiel, invested roughly $600m and now holds about 3% of SpaceX, a stake worth over $50bn at the IPO price. Valor Equity Partners owns close to 4%, translating to nearly $70bn, while Sequoia Capital’s 1.5% position is valued at more than $20bn against a $2bn commitment. Andreessen Horowitz and DFJ Growth stand to gain billions, underscoring exits dwarf VC returns.

Thrive Capital, an early backer that entered when SpaceX was valued at $38bn, could add another $10bn if its planned $60bn acquisition of AI coding startup Cursor closes. Smaller holders such as 137 Ventures, with about 1% ownership, also convert private stakes into public market value. The IPO underscores the market’s appetite for mature, high‑growth tech assets.