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SUBSCRIBE History & Society Science & Tech Biographies Animals & Nature Geography & Travel Arts & Culture ProCon Money Games & Quizzes Videos On This Day One Good Fact Dictionary New Articles History & Society History Philosophy & Religion Politics, Law & Government Society & Social Issues Science & Tech Health & Medicine Science Technology Biographies Browse Biographies Animals & Nature Birds, Reptiles & Other Vertebrates Environment Fossils & Geologic Time Insects & Other Invertebrates Mammals Plants Geography & Travel Geography & Travel Arts & Culture Entertainment & Pop Culture Literature Sports & Recreation Visual Arts Image Galleries Podcasts Summaries Top Questions Lists and Stories Britannica Kids Search Britannica Click here to search Ask the Chatbot Games & Quizzes History & Society Science & Tech Biographies Animals & Nature Geography & Travel Arts & Culture ProCon Money Videos Trending 2026 Iran War U.S. Midterms 60 Minutes Ebola Nigel Farage Fog Idris Elba Soccer Slang 101 Knicks Spurs June 4, 2026 Preparing for Launch SpaceX is expected to complete its long-awaited initial public offering (IPO) next week, giving retail investors access to a company whose ambitions span reusable rockets, satellite communications, artificial intelligence, and space exploration. The SpaceX IPO could become one of the largest in history and possibly make founder Elon Musk the world's first trillionaire. The offering also may help determine how quickly other high-profile private companies such as OpenAI and Anthropic enter the public markets. How do you value a company today when much of its expected growth and profitability may still be years away? SpaceX Starship V3 Rocket Launch © SpaceX/Reuters; music © Ian Post/Artlist.io SpaceXâs History-Making IPO © KOTO/stock.adobe.com; Photo illustration Encyclopædia Britannica, Inc. Taking a Company Public © lucky-photographerâiStock/Getty Images Funding Start-ups Angel Investor vs. Venture Capitalist Financing Through Crowdfunding The Long History of Buying the FutureThe future is unknowable, but that hasnât stopped investors from trying to buy it. While the business world prepares for SpaceXâs potentially blockbuster initial public offering, hereâs a look at other moments over the past few centuries when investors tried to buy the next era.
Trade becomes tradeableOne of the earliest publicly traded companies, the Dutch East India Company was founded in 1602 to protect Dutch Republic trade in the Indian Ocean and aid the Dutch war of independence from Spain. The company prospered through most of the 17th century as an instrument of the Dutch commercial empire before its dissolution in 1799.
Speculation outruns realityNot every bet on the future was underpinned by a durable business. In the 17th century the Dutch âTulip Maniaâ pushed prices for rare bulbs to absurd heights before they collapsed. A century later came another reckoning: The South Sea Company became the center of a speculative mania that collapsed in 1720 and ruined many British investors.
Personal computers become big businessBy the late 20th century, the future looked technological. Apple Computer, Inc.âs 1980 public offering, 4.6 million shares at $22 each, was the biggest IPO since Ford Motor Company went public in 1956.
The dawn of the Internet ageNetscapeâs 1995 stock market debut hinted at the colossal financial weight of the Internet age, with shares more than doubling on the first day. Amazon.com went public in 1997 but didnât record its first profit until 2003.
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