SpaceX IPO is a ‘referendum’ on Musk, say market watchers

Elon Musk at SpaceX in Brownsville, Texas, May 27, 2025. Marvin Joseph | The Washington Post | Getty Images Friday's hotly anticipated SpaceX public debut could prove a defining moment for capital markets — and be a "referendum" on Elon Musk's leadership, according to market watchers. Musk's eye-watering $1.75 trillion valuation target reflects a price-to-earnings ratio of almost 100-times, compared to around 20-25-times for chip giant Nvidia and roughly 10-times for Apple . …