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Wall Street giants tout SpaceX as Musk speaks at pre-IPO investor event
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Wall Street giants tout SpaceX as Musk speaks at pre-IPO investor event
Jun 4, 2026 6:52 PM

* BofA, Morgan Stanley ( MS ) and JPMorgan ( JPM ) host exclusive events

for wealthy clients, financial advisors

* Musk speaks at JPMorgan ( JPM ) event, touts revenue

predictability

* Thousands of clients invited to launch parties and

livestreams

* Expected $75 billion IPO is the talk of Wall Street

(Adds Musk appearance and comments in paragraphs 2, 6-8, Dimon

comment in paragraph 10; S&P decision on fast entry rules in

paragraph 18)

By Tatiana Bautzer and Nupur Anand

NEW YORK, June 4 (Reuters) - Wall Street's investment

banking giants are feting hopeful buyers of Elon Musk's SpaceX

at splashy events that kicked off on Thursday, offering

something most banks can't: access to the rocketmaker's top

executives ahead of its blockbuster IPO next week.

Musk himself showed up at a lead event - virtually.

His futuristic IPO, which bases its lofty valuation on

sci-fi concepts like colonizing Mars and data centers in space,

has captured the imagination - and wallets - of Wall Street and

investors clamoring for a piece of the action.

Bank of America ( BAC ), JPMorgan ( JPM ) and Morgan Stanley ( MS )

are all hosting events over the next few days.

With plans to raise a record $75 billion, it would be the

largest of all time. At an expected $1.75 trillion market

capitalization, the company will immediately become one of the

most valuable listed names worldwide.

Musk spoke to JPMorgan ( JPM ) clients by video link at an event

hosted by CEO Jamie Dimon on Thursday, in what a source familiar

with the matter said was a last-minute addition to the event.

Asked by Dimon what prompted him to take SpaceX public now,

Musk said: "We're embarking on a massive new growth phase, and

we need capital for that."

Musk also said he felt "pretty good" about the company's

revenue projections and that revenue had become "much more

predictable" than earlier.

SpaceX President and Chief Operating Officer Gwynne Shotwell

and CFO Bret Johnsen attended JPMorgan's ( JPM ) recently opened

headquarters in person. Even Musk's mother, Maye, was in the

room.

In the first such event for the bank at this scale, with

around 3,500 clients tuned in, Dimon said JPMorgan ( JPM ) was looking

to treat "individual investors the same way institutions are

treated."

JPMorgan ( JPM ) also played a video of a SpaceX rocket launch on

Thursday on repeat across wide screens at its headquarters along

with the words "Go for Launch" projected several feet high

across the lobby.

Bank of America ( BAC ), which is leading the retail distribution

effort in the U.S., decked out the lobby at its midtown

Manhattan headquarters with SpaceX rockets and other images for

an event Thursday for wealth management clients, a person

familiar with the matter said.

The event will be headed by Co-President Jim DeMare, who

will interview SpaceX's Shotwell and Johnsen about the company's

public trading debut, according to a person with knowledge of

the matter. It was not clear if Musk would participate in the

Bank of America ( BAC ) event. The bank also plans to light the

building's spire Thursday night to resemble a rocket ship taking

off.

Bank of America's ( BAC ) private bank and Merrill Lynch have

invited more than 5,000 clients to market launch parties being

hosted by the bank and streamed to offices across the U.S. as

part of the Merrill presence.

On Monday, Morgan Stanley ( MS ) is hosting an event for its wealth

management clients featuring SpaceX executives along with Kate

Claassen, the lead banker in the IPO, and wealth management head

Jed Finn.

It was not clear if Goldman Sachs ( GS ) was organizing an

event similar to its well-heeled rivals for its wealth

management clients. The bank is also showcasing SpaceX model

rockets in two lobbies in its downtown Manhattan headquarters to

mark the stock debut.

Typically, Goldman Sachs ( GS ) does offer large deals to its

private wealth clients, according to people familiar with the

matter.

Separately, Musk faced a setback on Thursday when S&P Global ( SPGI )

said it was not changing the requirements for entry

into its major indices, effectively ruling out a swift entry for

SpaceX into the benchmark S&P 500 index.

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