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His reasoning was always the same:
A company trying to build a self-sustaining city on Mars can't be managed quarter-to-quarter by Wall Street.
So why rush into the biggest IPO in history?
SpaceX didn't go public because it was struggling. It went public as one of the most desired private companies on Earth.
The timing raises an interesting question:
Did SpaceX need public capital...
Or did Elon simply realize the market was willing to value his long-term vision at levels private investors never could?
The IPO raised $75 billion and briefly pushed SpaceX's valuation above $2 trillion, making Musk the world's first trillionaire.
Maybe this was about funding Starship, Starlink, AI infrastructure, and Mars.
Or maybe it was about taking advantage of one of the most optimistic markets in modern history.
What's your take?
If Musk was so against going public for 20+ years, what changed?