Sen. Warren Calls for SpaceX IPO to Be Delayed in Letter to SEC

By Elias Schisgall

Sen. Elizabeth Warren is calling for SpaceX's blockbuster initial public offering to be delayed due to questions about the company's valuation, governance and its rushed inclusion into certain index funds.

In a letter to Securities and Exchange Commission Chair Paul Atkins on Tuesday, Warren demanded that the agency halt and initiate a review of the IPO before shares of SpaceX are listed Friday on Nasdaq.

"The massive size of the SpaceX IPO alone, under normal circumstances, would justify careful SEC review and attention to investor needs," said Warren, a Massachusetts Democrat. "But these are not normal circumstances: a number of additional factors exacerbate concerns and require action by the SEC to meet its investor protection and market integrity mandates by delaying the IPO."

The IPO for Elon Musk's rocket company is expected to be the largest ever, with SpaceX planning to sell about $75 billion worth of shares, giving the company a valuation of roughly $1.77 trillion. Further distinguishing the offering is that Musk will retain strong control of the company after the offering, and his push to have it included in major stock indices so soon after it goes public. Many index providers have already obliged, including Nasdaq, FTSE Russell, and the London Stock Exchange Group.

Warren wrote that fast-tracking SpaceX into major indices would force millions of passive investors to become SpaceX investors and "face exposure to SpaceX's significant risks with no choice in the matter."

She also suggested that SpaceX's was pursuing a dubious target valuation and raised concerns about Musk's near-absolute level of control over the company.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

June 10, 2026 12:19 ET (16:19 GMT)