SpaceX, the private aerospace company founded by Elon Musk, is preparing for a significant initial public offering (IPO) potentially raising as much as $75 billion. This would make it the largest IPO in history, surpassing Saudi Aramco’s $29 billion debut in 2019.

Hawthorne Origins and Continued Presence

Though SpaceX has moved its headquarters to Texas, the company maintains a substantial presence in Hawthorne, California, where it was originally headquartered. The move occurred in July 2024, prompted by a new California state law regarding parental notification of gender identification changes.

A Boon for Hawthorne’s Economy

SpaceX’s presence has been a major benefit to Hawthorne, which once faced financial difficulties. The company established a 1-million-square-foot headquarters and is now the city’s largest employer. As of 2025, SpaceX accounts for almost 20% of total employment in Hawthorne, with over 7,000 employees, according to a city employment report.

Recent Developments and Challenges

On Thursday, August 24, 2023, the U.S. Department of Justice filed suit against SpaceX, alleging hiring discrimination against refugees and asylum seekers. The company also launched the Maxar 1 mission to orbit from Vandenberg Space Force Base on May 2, 2023.

Hyperloop Competition and Community Engagement

SpaceX has fostered innovation through initiatives like the Hyperloop Pod Competition, held at its Hawthorne headquarters. In 2018, the WARR Hyperloop team won the competition, achieving speeds of 284 mph. The company also attracted businesses to the Crenshaw Boulevard area, including breweries like Los Angeles Ale Works, which created beers named in honor of SpaceX.

Public Reaction and Protests

SpaceX has faced public scrutiny, including a protest in March 2025, where hundreds gathered to demonstrate against Elon Musk and the Department of Government Efficiency. Protesters voiced concerns about job losses and potential conflicts of interest. Musk has since distanced himself from his previous role in the federal government.

IPO Details and Future Outlook

The IPO filing with the U.S. Securities and Exchange Commission puts SpaceX on track for a potential listing in June. The company is considering a dual-class share structure, potentially granting insiders like Musk greater voting control. Up to 30% of the offering may be allocated to small investors, increasing transparency regarding ownership.

Hawthorne Mayor Alex Vargas expressed optimism about the IPO, stating, “As the home of SpaceX, the City of Hawthorne is very happy for SpaceX…and everyone else who will benefit from this initial IPO.” He also hopes the IPO will strengthen the existing partnership between the city and the company.