Elon Musk takes SpaceX public and retains almost all the power. Ryan Mac, a technology reporter for The Times, explains why the company’s record IPO is both a big bet on Musk’s vision and a risk for investors.
By Ryan Mac, Nour Idriss, Nikolay Nikolov, Stephanie Swart, Rafaela Balster and Sam Rosenthal
12 June 2026
