Topline
Elon Musk is requiring advisers working on SpaceX’s IPO to purchase subscriptions to Grok, the AI chatbot owned by the aerospace firm, the New York Times reported Friday, ahead of what’s expected to be the largest debut in history.
The offering is expected to be the largest in history.
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Key Facts
Musk asked banks, law firms, auditors and other advisers behind SpaceX’s IPO to buy Grok subscriptions, the Times reported, citing people with knowledge of the matter.
He also requested the banks advertise on X, though Musk was reportedly more flexible about that demand.
Among the banks leading SpaceX’s offering are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Morgan Stanley, the Wall Street Journal reported, citing people familiar with the company’s confidential filing, and law firms Gibson Dunn and Davis Polk are advising, according to the Times.
SpaceX did not immediately respond to a request for comment from Forbes.
Big Number
$75 billion. That’s how much SpaceX’s public offering is expected to raise, valuing the company at $1.75 trillion, which would more than double Saudi Aramco’s $29 billion debut in 2019 as the largest-ever IPO.
Key Background
Musk’s AI startup xAI was acquired by his SpaceX in February, consolidating two of his companies in a deal valuing the combined entity at about $1.25 trillion. That brought Grok, xAI’s chatbot, under SpaceX. The chatbot has come under scrutiny over the last year: India launched a review of Grok’s safety features in January after the chatbot posted AI-generated sexual images of children. Grok, in response to a user at the time, blamed “lapses in safeguards” while noting child sexual abuse material is “illegal and prohibited.” In July 2025, Musk said Grok was “too eager to please and be manipulated” after the chatbot responded as “MechaHitler” over several posts that praised Nazi leader Adolf Hitler.
Forbes Valuation
Musk is the wealthiest person in the world with an estimated net worth of $809 billion. He’s on track to become the first person to be worth $1 trillion, and Musk—who owns about 43% of the combined SpaceX-xAI firm—will likely cross that threshold after SpaceX’s debut. Tesla separately approved a compensation package for Musk in November that could be worth about $1 trillion if the automaker meets several stock-based goals.
Further Reading
ForbesMusk Closer To Trillionaire Status: SpaceX Files For IPO