Elon Musk, the man who makes billion-dollar decisions over a coffee break, has brushed off reports suggesting that SpaceX will leave Robinhood and SoFi out of its much-anticipated IPO.
This came after whispers spread like wildfire that the two retail-focused brokerages might find themselves on the outside looking in as SpaceX gears up to become the largest IPO in history (because who doesn’t love a good record-breaking moment?).
Retail Fears Ignite After Reuters Spills the Tea
On March 30, a Reuters report hit the newsstands, claiming that Morgan Stanley’s E*Trade was in talks to lead the sale of SpaceX shares to everyday U.S. investors-because, apparently, the little guys matter.
The report also suggested that SpaceX was seriously considering cutting Robinhood and SoFi out of the deal entirely. Well, isn’t that fun?
“The SpaceX IPO is shaping up to be the biggest in history, but two of Wall Street’s biggest brokerages may not get a piece of it. Robinhood and SoFi have both pitched for roles on the deal, but SpaceX is considering cutting them out altogether,” Reuters boldly declared.
But not so fast, says Musk. Amid the mounting demands for a spot at the table, Musk took to Twitter to throw some cold water on the whole thing, insisting that the rumors were just that-rumors.
These reports are false
– Elon Musk (@elonmusk) March 31, 2026
Why Robinhood Is the Golden Child of This IPO
Why is everyone so obsessed with Robinhood, you ask? Well, let’s break it down. As of February 2026, Robinhood boasts a staggering 27.4 million funded customers and a massive $314 billion in total platform assets.
But wait-there’s more! According to a BCG Matrix report, the median age of Robinhood’s customers is a sprightly 35, making it a favorite for younger investors. And guess who else has a loyal fanbase of young, rebellious investors? That’s right-Tesla and SpaceX.
Robinhood is the new Coinbase.
Think many undervalue them as a web3 powerhouse// but we know the game is about mindshare and user bases..
26.5 million customers with the median age of 35. As hood becomes a one stop shop for all financials, the new class of on chain crypto will…
– deci (@18decimals) October 5, 2025
SpaceX, in its infinite wisdom, has reportedly considered setting aside a generous 30% of its IPO for retail investors. That’s about three times the usual 5%-10% share normally reserved for the average Joe.
And here’s the kicker: the IPO could rake in a jaw-dropping $75 billion, all while giving SpaceX a valuation that might just cross the $1.75 trillion mark. Not bad, eh?
As for Robinhood’s stock, it took a small hit, dropping about 2% after the Reuters bombshell. Meanwhile, Robinhood and SoFi were both elbowing their way to get a piece of the pie, competing against heavyweights like E*Trade and Fidelity for the retail allocation.
Musk, never one to let rumors fester, was quick to stamp out the fire, aligning with earlier reports that the SpaceX IPO is still set for a June 2026 debut.
Whether or not Robinhood secures a formal role in the IPO distribution remains a cliffhanger for now. But Musk’s timely intervention signals one thing: excluding retail-friendly platforms from this IPO? Not part of the master plan, folks.
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2026-03-31 15:52