On the evening of June 5, 2026, Jamie Dimon — the chief executive of JPMorgan Chase, the largest bank in the United States — stood before a crowd of 350 investors at his firm's Manhattan headquarters and introduced Elon Musk as "the Edison of our time." At that same moment, in 89 other rooms across 26 states, more than 2,500 of JPMorgan's wealthiest clients were watching the same thing simultaneously on screens, part of a nationwide simulcast that the bank had quietly built from scratch to serve one purpose: sell SpaceX.
SpaceX is targeting a share price of $135, aiming to raise $75 billion in what would be the largest initial public offering in stock market history. For context, Saudi Aramco's record-setting 2019 debut raised roughly $25.6 billion. That comparison is worth sitting with for a moment. SpaceX isn't trying to raise a little more than the previous record. It is trying to raise three times it.
And the man chosen to open that ask — to stand in front of a room and say, in essence, trust this — was not a technology analyst or a SpaceX executive. It was Jamie Dimon. The same Jamie Dimon who has publicly clashed with Musk for years, whose bank sued Musk's electric car company Tesla in 2021, and who has never been mistaken for anyone's cheerleader.
That is the detail that makes this story worth paying attention to. Not the number. The man behind the pitch.
