- The huge IPO would produce sufficient wealth for SpaceX workers to buy approximately 40% of all the homes in San Antonio, one of the closest significant cities to where the company is headquartered. Or they might purchase each and every single home in McAllen, situated simply 80 miles far from the SpaceX headquarters.
- Additionally, they could buy 5% of all homes in the Los Angeles city, where the business was founded.
With the wealth created through SpaceX’s huge IPO, existing and former workers might hypothetically pool their money to purchase an approximated 40% of all homes in San Antonio, among the closest major U.S. metro locations to the company’s Starbase, TX headquarters. That’s not just homes for sale– that’s half of all homes in the whole metro location.
A few other hypothetical choices: Those staff members could buy an approximated 15% of all homes in Houston, the fourth-most populous U.S. city. Or they might buy every home in McAllen, TX– much smaller sized than San Antonio or Houston however closer to Starbase, just 80 miles away– and have about $74 billion left over.
Alternatively, existing and previous employees could hypothetically purchase almost one in 20 (5%) of all homes in the Los Angeles city area, where SpaceX was based until it relocated to Texas in 2024. SpaceX was founded in El Segundo, CA and Hawthorne, CA– both part of the Los Angeles city– in 2002.
Based on SpaceX’s S1 filing, the business’s IPO might be the biggest in history. SpaceX prepares to offer 555,555,555 shares of typical stock at $135 per share, raising close to $75 billion and bringing the value of the company to $1.77 trillion. We approximate that current and former staff members own roughly 10%-15% of overall shares in the business, bringing their overall equity to somewhere in between $150 and $250 billion; for this report, we’re using the midpoint of $200 billion. Using broad tax presumptions, existing and previous staff members will acquire a total of about $120 billion, post-tax, which is the figure we are utilizing to estimate how much property staff members might buy.
The overall worth of all homes in San Antonio was roughly $297 billion since 2024, according to a Redfin report. The total value of all homes in Houston was $801 billion, and the total value of all homes in McAllen was $46 billion. Using the assumption that SpaceX workers will earn $120 billion overall through the IPO, their equity might buy 40% of all real estate in San Antonio or 15% in Houston. Their equity could purchase all the realty in McAllen, and after that some.
The total worth of all homes in Los Angeles was almost $2.2 trillion in 2024– second only to New York City. SpaceX workers might pool their money and purchase a large piece– 5%– of L.A.’s real estate.
Big-Time IPOs Meaningfully Impact Local Real Estate Markets
“While these estimations are simply hypothetical and aren’t implied to recommend a practical use of IPO profits, they show the staggering scale of wealth being created by the SpaceX public offering,” said Chen Zhao, Redfin’s head of economics research. “Some staff members will invest their windfalls on real estate, and some will invest it on other things– but large liquidity events like this do have significant results on local realty markets. As employees cash out stocks and gain acquiring power, some will pick to purchase a house for the very first time, while others will update their existing homes or purchase trip or financial investment residential or commercial properties. That increases demand in neighborhoods where these companies are based and frequently drives up rates.”
In San Francisco, home prices are growing at their fastest pace in almost a years as the AI boom drives a rise in need. The Bay Area’s hot real estate market is driven largely by signing perks and huge wages from AI business, and when big AI services go public, it could have an even larger effect on real estate. Anthropic and OpenAI, both based in San Francisco, each filed confidentially for IPOs in early June. Both will supposedly be valued near to $1 trillion when they go public.
Methodology
SpaceX’s IPO appraisal, share count, and ownership stakes are drawn from the business’s S-1 registration declaration submitted with the SEC on May 20, 2026, and a changed filing dated June 3, 2026. SpaceX prepares to offer 555,555,555 shares at $135 per share, indicating a total company valuation of around $1.77 trillion.
The S-1 does not divulge total employee equity as a single figure. Our price quote that staff members hold 10– 15% of total shares– suggesting $150– 250 billion in equity, with a $200 billion midpoint– is obtained by subtracting recognized big stakeholders from the overall market cap and using typical employee equity pool varies seen at equivalent late-stage tech IPOs. After applying approximated federal and state earnings taxes, we approximate SpaceX employees would net an overall of around $120 billion in after-tax profits, or approximately 60% of the $200 billion pre-tax midpoint. That is a broad figure, as taxes depend on state, stock type and many other factors.
Total housing market values for all metro areas cited are from a Redfin report on U.S. real estate market price as of December 2024.
Essential caveats: All wealth figures reflect IPO pricing, not realized gains– workers go through lockup periods before they can sell shares. Taxes might lower actual profits more than estimated. The staff member equity figure is a modeled quote, not a divulged number. And the property comparisons are illustrative just, planned to communicate scale instead of suggest a sensible usage of IPO profits.