SpaceX, founded by Elon Musk in May 2002, is poised to go public in what could be the largest IPO in history, targeting a valuation of approximately $1.5 trillion and aiming to raise up to $50 billion. The initial public offering is anticipated to take place later this year. The company has secured a dominant position in rocket launches and is benefiting from its lucrative Starlink satellite internet division.
Billionaire investor Ron Baron has actively invested in SpaceX shares on behalf of his mutual funds since 2017, currently holding 16% in the Baron First Principles ETF and 29% in the Baron Partners Fund. As of December 31, 2025, Baron Focused Growth Fund holds 19% of its assets in SpaceX. The Entrepreneur Private-Public Crossover ETF, XOVR, also added SpaceX through a special-purpose vehicle (SPV), and its assets have exceeded $1.6 billion, primarily fueled by demand for SpaceX exposure.
The SEC’s regulations classify SpaceX as no longer an illiquid investment due to its active secondary market. Companies exploring space data center projects, like Blue Origin and Google, highlight the competitive landscape as investments in this sector require substantial funding, often in the hundreds of billions, to address technical challenges like cooling and radiation protection.
