Investor's Corner
[Updated] Insider reveals possible SpaceX IPO, Tesla shareholders will reportedly have early access
SpaceX is preparing to IPO this year, according to a leaked report posted to a trading forum and tipped off to Teslarati. A user by the name of Jushuatree provides very specific detail in what will likely be the most anticipated and talked about IPO in the last decade.
Updated: SpaceX President Gwynne Shotwell issued a statement confirming that there are no plans for a SpaceX initial public offering, contrary to Empire Capital’s original communication to its investors.
Updated: Teslarati was able to connect with Empire Capital Partners via phone call and speak to a representative in regards to the reported email sent by the firm. Empire Capital Partners confirmed the email, however also qualified it by saying they were reaching out to clients floating the idea of a SpaceX IPO in an attempt to gather more interest from clients in Tesla, Inc. They do not have any evidence of SpaceX preparing for an IPO, and they believed the best way to gain potential early interest is through an investment in Tesla.
The post reveals that Empire Capital Partners, a hedge fund focused on the technology sector, is soliciting interest in a pre-IPO for SpaceX and telling investors that the company has positioned a large stake in Tesla. Reportedly, Tesla investors will have exclusive early access to buy into the “Biggest opportunity of the decade” as soon as the initial public offering is released.
While news of a SpaceX IPO will likely trigger mass interest from institutional investors and Tesla shareholders, it’s important to note that a long process awaits before the Elon Musk-backed space company goes public. SpaceX has not yet filed an S-1 filing with the U.S. Securities and Exchange Commission which can take upwards of 30 days to review, not including any time required for additional amendments made to the filing. The S-1 filing allows the company to submit financial information to the SEC ahead of launching on the public markets. Companies looking to make an initial public offering then proceed with a “roadshow” to convince institutional investors to invest in the company. After that, the company would set the pricing of the IPO and begin the offering.
[Update: Empire Capital Partners, in fact, has no relation with a hedge fund run by Scott Fine and Peter Richards. The compay’s official entity is Empire Capital GP, LLC]
Empire Capital Partners is a global asset manager, based in Connecticut, with $1.13B in assets and was founded in 2005. ECP was founded by Scott A. Fine and Peter J. Richards, and they have participated in several large IPOs including Box, Square, Twitter, Fitbit, and Esty. The company lists SpaceX as a partner on their website and a featured investment that is “live” to their customers.
According to the insider note posted to Sharetrader, ECP has a “10-year history of substantial financial investment” with SpaceX. The note indicates that the hedge fund has been working on the deal for the past 18-months and looking forward to presenting “the biggest pre-IPO opportunity of 2017, maybe even the decade” to its investors.
“Empire Capital Partners is proud to present to you, the fantastic opportunity, in which you are able to take full advantage by getting involved at the ground level. This is sure to be the biggest pre-IPO opportunity of 2017, maybe even the decade. SpaceX is the brainchild of Elon Musk, a highly undervalued company founded in 2002. SpaceX raised $1 billion from Google Inc. and Fidelity Ventures in January 2015. This investment accounts for less than 10% of the company’s estimated value, conservatively between $10 and $12 Billion US Dollars.” reads the email sent to Joshuatree.
SpaceX will list on the NYSE, while Tesla is listed on the NASDAQ. Tesla’s IPO in 2010 went for $17 per share and raised over $226M. Tesla has since raised several billion dollars from the public markets since, including $1.4B in March this year, and continues to see strong demand from investors.
Musk stated in 2015 that a SpaceX IPO would be unlikely in the future, stating, “It will go public once we have regular flights to Mars.” Since then, Musk has seen incredible success in the public markets. Tesla continues to set record highs and currently worth over $51B, becoming one of the largest automakers in the world. Additionally, the overall conditions in the market are at near all-time highs – a prime condition for a SpaceX IPO.
SpaceX was founded in 2002 by Elon Musk and has since risen to become a multi-billion dollar company with over 5,000 employees. The company has completed dozens of flights over the past couple of years and landed several lucrative contracts with NASA, The Department of Defense, SES, and Iridium. Outside of SpaceX’s current operations, Musk has even larger plans for the company. Musk revealed in June 2016 that SpaceX intends to build a rocket capable of reaching Mars and transporting large masses of people. Called, Interplanetary Transport System (ITS), SpaceX is looking to build a 40-story tall re-useable rocket capable of carrying hundreds of people to the red planet. The company has lofty goals to start testing the ITS rocket after 2020 but requires significant funding for the program. At its inception, Elon Musk injected roughly $100M in capital into the company.
We’ve provided a copy of the original e-mail tipped off to Teslarati and reportedly sent by Empire Capital Partners to its clients.
We are currently positioning the bulk of our clients into ‘Tesla Motors Inc.’ a company trading on the NASDAQ in New York under the trading symbol ‘TSLA.’ The company has an ancillary company preparing for a formal listing in the New York Stock Exchange, as an IPO (Initial Public Offering) called SPACE X. The reason we are putting all our preferred clients into TESLA; is what we know. Not only is TESLA going to show solid gains in the short term – yielding clients anywhere upwards of 20%. We have insight that the SPACE X IPO will be the most lucrative, and sought after IPO of 2017! Elon Musk, the founder of PayPal, and CEO of Tesla, Solar City and Space X has announced – the existing shareholders of Tesla will have exclusive option to buy into the Initial Public Offering of Space X as soon as they are released. Elon Musk likes to take care of his own. We have bought an institutional position in TESLA and are using the shares that we have acquired to bring new clients on board at a discount, in order to show them how Empire Capital Partners can deliver in 2017. Our goal is simple. We want to show you the power of information and get you involved in the Space X IPO. The minimum investment into TESLA is $10,000.00 USD and that would allow you to take advantage of the Initial Public Offering of SPACE X once it is announced. You can find additional information about TESLA at http://www.tesla.com
Empire Capital Partners has, with SpaceX, a 10 year history of substantial financial investment. We have spent the last 18 months in analytical research having crossed all the T’s and dotted all the I’s.
Empire Capital Partners is proud to present to you, the fantastic opportunity, in which you are able to take full advantage by getting involved at the ground level. This is sure to be the biggest pre-IPO opportunity of 2017, maybe even the decade. SpaceX is the brainchild of Elon Musk, a highly undervalued company founded in 2002. SpaceX raised $1 billion from Google Inc. and Fidelity Ventures in January 2015. This investment accounts for less than 10% of the company’s estimated value, conservatively between $10 and $12 Billion US Dollars.
Although SpaceX is known by the general public for its work on reusable rockets, the well-known giant Google has other interests Google’s interest peaked with Musk’s recent announcement when he outlined a plan for a global communications system that would use satellites to beam low-cost internet around the world.
Elon exclaimed, “Larger than anything that has been talked about to date,” He added, “at least five years and $15 billion to build and will implement 700 tiny satellites 750 miles above the Earth.” Google has long had similar ambitions itself by spreading internet around the world, including to remote regions. Google would then boost the number of people who have access to its services and of course all the extra revenue that comes with it! SpaceX points out that two thirds of the world have no access at all. It’s why we’re so focused on new technologies. New technologies that have the potential to bring hundreds of millions more people online in the coming years.”
Facebook and Google have already been working with balloons and drones trying to figure out how to spread Internet access. The internet space race is on! With Google heavily investing such large amounts into SpaceX, TALK ABOUT A WINNING COMBINATION! GOOGLE AND ELON MUSK! Now might be the time to sell those Facebook shares and back SpaceX by investing into the only clear winner of that race.
Even combining Google and SpaceX’s achievements and technologies, there are still a lot of big questions and challenges around how Musk’s satellite vision will work. Another big challenge would be installing ground-based antennas and computer terminals to receive the satellite signals. One thing that you can count on, the sure fire bet!
IF ELON MUSK PUTS HIS MIND AND MONEY INTO IT. IT WILL HAPPEN!
Fidelity invested in SpaceX in January 2015, putting up $16.75 million to join Google in a $1Billion investment. Fidelity now values its SpaceX stake at $19.25 million, a 15% increase. SpaceX said the two new additional investors owned just under 10% of the company. Google put the vast majority of cash into SpaceX’s billion-dollar financing round — $900 million for a 7.5% stake in the company. That implies SpaceX’s new valuation is $12 billion and puts the company ahead of companies like Dropbox, Snapchat and Airbnb, but behind Xiaomi, Uber and Palantir.
As a private company, SpaceX’s financials are fairly opaque, it has booked as much as $7 billion in future revenue from 60 commercial launch bookings over the next several years, and last year won a $2.6 billion contract to build the Dragon 2 and transport astronauts to the International Space Station. It also is bidding for a second contract to ferry cargo to the International Space Station (ISS), which is expected to be worth hundreds of millions of dollars.
SpaceX now ranks fourth on The Wall Street Journal’s list of billion-dollar private companies, securing an easy $12 Billion valuation.
SpaceX’s value exceeds that of rivals. United Launch Alliance, a key SpaceX competitor in the US, is reportedly the subject of a $2 billion takeover bid by the space firm Aerojet. But ULA has older technology and less commercial business than SpaceX. Arianespace, the European private launch contractor, was valued between $340 and $640 million as France prepared to sell its stake in the firm this summer, but it does not manufacture its own rockets.
Elon Musk
Elon Musk just upped his Tesla stake further fueling SpaceX merger conversation
Elon Musk just collected a $116 billion Tesla payday and the timing is eye-opening
Elon Musk quietly collected one of the largest single-transaction paydays in corporate history on Monday. A Form 4 filed with the SEC on June 17, 2026 disclosed that Musk exercised 303,960,630 Tesla stock options from his 2018 compensation package, with the transaction dated June 16. No shares were sold on the open market.
The numbers are straightforward but striking. Musk exercised the options at a split-adjusted strike price of $23.34, with Tesla closing at $404.66 that day, putting the spread at $381.32 per share and generating roughly $115.9 billion in paper gains in a single transaction. To cover the exercise cost, Tesla withheld 17,531,857 shares through a net share settlement, meaning Musk paid nothing out of pocket.
For perspective, in 2018, Elon Musk’s award was originally approved by Tesla shareholders on March 21, 2018, and structured entirely around performance milestones that many analysts at the time called unreachable. Every tranche eventually vested. The original grant covered 20,264,042 shares at $350.02, which after Tesla’s 5-for-1 split in 2020 and 3-for-1 split in 2022 adjusted to 303,960,630 shares at $23.34. A Delaware court rescinded the award in January 2024, ruling the board was conflicted. As Teslarati reported, Tesla shareholders voted to ratify the package anyway in June 2024 by a wide margin. The Delaware Supreme Court reversed the decision in December 2025, finding full cancellation too extreme, and Tesla’s board signed an Implementation Agreement on April 21, 2026 to formally deliver the shares.
The Tesla and SpaceX merger everyone is talking about is quietly building
The timing and structure of the Form 4 filing carries more weight than a routine stock option exercise typically would. Musk exercised his 2018 Tesla award on June 16, a week into SpaceX completing its IPO and trading publicly, and giving SpaceX a public market valuation and share currency for the first time in the company’s history. A stock-for-stock merger between two companies requires the acquiring entity to have tradeable shares it can offer to the target’s shareholders, and SpaceX now has exactly that. At the same time, Musk just increased his direct Tesla voting power to approximately 20%, giving him greater influence over any shareholder vote that a merger would require. The restricted shares he received cannot be sold until 2033, which removes any near-term incentive to cash out and instead positions this stake as long-term structural collateral in a deal. Additionally, Musk’s two companies are already deeply intertwined through shared semiconductor fabrication at their joint TERAFAB facility in Austin, cross-company supply chain transactions, and Tesla’s $2 billion investment in xAI prior to the SpaceX-xAI merger.
Wedbush analyst Dan Ives has publicly placed the odds of a Tesla and SpaceX combination at 80% to 90% by early 2027. The Implementation Agreement that made Monday’s exercise possible was signed on April 21, 2026, roughly two months before the SpaceX IPO closed. That sequencing, building Musk’s Tesla ownership to its highest point ever immediately before SpaceX gains the public currency needed to acquire it, is either an extraordinary coincidence or a carefully staged foundation for the largest corporate merger in history.
Tesla deliveries got a big boost in expectations from Wall Street firm Goldman Sachs, who believes the company will report some stronger-than-expected numbers when the second quarter comes to an end in the coming weeks.
Goldman Sachs has raised its vehicle delivery forecast for Tesla (NASDAQ: TSLA) in the second quarter of 2026, signaling growing confidence in the electric vehicle leader’s near-term momentum despite mixed market signals. Analyst Mark Delaney lifted the bank’s Q2 estimate to 420,000 units from a previous 405,000, surpassing the Visible Alpha consensus estimate of 400,000.
The upward revision stems from stronger-than-expected sales data across key regions. Europe stands out with projected year-over-year growth of 85-90 percent, driven by robust demand for Tesla’s Model Y and refreshed offerings. China posted high single-digit gains, while markets like South Korea and Australia also contributed positive momentum. These gains help offset mid-teens declines in U.S. deliveries through May, where broader EV market headwinds and competition persist.
Goldman extended its optimism to the full year, increasing its 2026 delivery projection to 1.73 million vehicles from 1.72 million. Longer-term forecasts remain unchanged, with 1.88 million units expected in 2027 and 1.96 million in 2028. The bank also nudged its 2026 earnings-per-share estimate higher to $1.35 from $1.30, reflecting anticipated margin benefits from higher volumes and operational efficiencies.
Despite these positive adjustments, Goldman maintained its Neutral rating and $375 price target on Tesla shares. At current trading levels near $411, the stock sits about 8-9 percent above the target, highlighting ongoing valuation concerns even as delivery momentum builds. Tesla’s Q1 2026 deliveries totaled 358,023 units, setting a baseline for recovery expectations in the current period.
This update arrives as Tesla prepares to report official Q2 figures shortly after June 30. Investors and analysts will closely watch not only headline delivery numbers but also regional breakdowns, average selling prices, and progress on energy storage deployments and autonomous technology initiatives.
The move by Goldman Sachs underscores a broader narrative for Tesla: while legacy auto markets face softening demand and tariff uncertainties, Tesla’s global footprint and product pipeline provide resilience. Europe’s surge reflects pent-up demand and policy support for EVs, while China’s steady growth highlights Tesla’s competitive positioning against local rivals.
Tesla still has its work cut out for it, including U.S. price sensitivity and intensifying competition. Yet Goldman’s revision adds to a series of analyst notes suggesting Q2 could mark a turning point. As Tesla pushes toward higher production rates at facilities in Fremont, Shanghai, and Berlin, sustained execution will be key to validating these higher forecasts.
We have said numerous times that deliveries are becoming a less important metric in the grand scheme of things, as AI truly takes precedence in the company’s thesis.
For Tesla bulls, the Goldman note reinforces faith in underlying demand trends. For skeptics, the unchanged rating serves as a reminder that delivery beats alone may not immediately resolve valuation debates in a high-interest-rate environment. Tesla’s stock reaction will likely hinge on the official numbers and management commentary in the coming weeks.
Renowned investor Ron Baron, founder and CEO of Baron Capital, has once again demonstrated his unwavering faith in Elon Musk’s ventures.
Just after SpaceX’s record-breaking IPO, Baron announced he purchased an additional $1 billion in SpaceX (NASDAQ: SPCX) shares. This move pushes Baron Capital’s total holdings in the company to a staggering $25 billion in market value, underscoring one of the most successful private-to-public investment stories in recent history.
Baron’s relationship with SpaceX dates back to 2017, when his firm began investing approximately $1.75–2 billion through secondary markets and employee tender offers at valuations around $20–22 billion.
By the time of the IPO, which valued SpaceX at over $2 trillion with shares closing near $161, those early stakes had generated more than $13 billion in unrealized gains. Post-IPO, Baron’s position ballooned further, reflecting the company’s meteoric rise driven by reusable rocketry, Starlink’s global satellite internet constellation, Starshield defense applications, and ambitious plans for orbital infrastructure.
In a recent interview, Baron articulated his bullish outlook with characteristic enthusiasm.
Ron Baron said today that he bought $1 billion of @SpaceX IPO shares last Friday, and said that all of Baron Capital’s $SPCX holdings are now worth $25 billion.
“I think we’re going to make hundreds of billions of dollars; If you read the prospectus, you realize what they… pic.twitter.com/U8F471KtJS
— Sawyer Merritt (@SawyerMerritt) June 15, 2026
“I think we’re going to make hundreds of billions of dollars,” he stated, emphasizing that SpaceX’s achievements in rocketry and satellite technology are “not possible for anyone else to accomplish.” He envisions the company as a cornerstone of humanity’s multi-planetary future, potentially reaching valuations of $10–30 trillion within 10–15 years.
Baron has repeatedly affirmed he has no plans to sell, viewing SpaceX as a “lifetime investment” alongside Tesla.
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
This conviction stems from SpaceX’s unparalleled execution. The company has revolutionized access to space with Falcon 9 reusability, deployed thousands of Starlink satellites, and is advancing Starship for Mars missions and point-to-point Earth transport.
Baron highlights emerging opportunities like space-based AI data centers and direct-to-cell satellite connectivity, positioning SpaceX at the forefront of a new space economy projected to generate trillions in value.
Critics may question the lofty projections amid high valuations and execution risks, but Baron’s track record speaks volumes. His Tesla holdings, initiated in the mid-2010s, have also delivered outsized returns. As one of the largest institutional holders of SpaceX pre-IPO, Baron Capital’s funds, such as Baron Partners, benefited immensely from valuation markups.
Baron’s $1 billion IPO purchase signals deep confidence in SpaceX’s post-IPO trajectory. In an era of short-term market noise, his strategy exemplifies patient capital: backing visionary leadership and transformative technology.
For investors watching the space sector, it serves as a powerful endorsement that the final frontier may indeed yield the next great wealth-creation engine. As Baron puts it, SpaceX isn’t just building rockets—it’s trying to “save humanity” by expanding our horizons beyond Earth.
Tesla Cybercab launch is imminent after latest sighting at Giga Texas
Elon Musk says this part of Tesla ‘makes no sense’
