Anthony Scaramucci said Thursday he plans to invest in SpaceX's upcoming initial public offering even while acknowledging that Elon Musk's personal following inflates the company's valuation beyond what traditional measures would justify.

Scaramucci Sees Premium But Still Buys

In a post on X, the SkyBridge Capital founder said he already owns SpaceX through a private round and argued that the "cult of personality" around Musk can push valuations "off the charts," much as Tesla Inc.’s (NASDAQ:TSLA) stock "defies conventional metrics."

Scaramucci said he still sees the investment case as compelling because Starlink alone is "worth a fortune," even if the broader company valuation, reported in recent days at roughly $1.75 trillion to more than $2 trillion, strains conventional logic.

He added that he is especially intrigued by the prospect of orbital data centers powered by solar energy in space and beamed back to Earth through satellites, calling the concept "fascinating" and saying that while it sounds like science fiction now, he believes Musk is "better positioned to do it than anyone else on earth" to make it real.

SpaceX IPO Would Rewrite Listing Records

Scaramucci ended his post by comparing the chance to buy into SpaceX with missing Amazon.com Inc. (NASDAQ:AMZN) in its early days. He wrote that a $10,000 investment in Amazon's May 15, 1997 IPO would be worth nearly $20 million today, adding, "I'm not making that mistake again."

SpaceX, meanwhile, has confidentially filed for what could become the biggest IPO in history. The company is said to be seeking to raise as much as $75 billion and has lifted its valuation target above $2 trillion, more than triple the $29.4 billion Saudi Aramco raised in its 2019 debut, which remains the largest IPO by proceeds.

What Prediction Markets Say

Polymarket traders currently assign a 62% chance that SpaceX will list in June. They also place a 39% probability on the company ending its first trading day with a valuation between $1.5 trillion and $2 trillion.

The same market gives SpaceX a 26% chance of closing its debut session between $2 trillion and $2.5 trillion. For investors shut out of the private round, EchoStar Corp. (NASDAQ:SATS) offers indirect exposure through its roughly 3% stake, while Tesla Inc. remains the most liquid public proxy for Elon Musk exposure ahead of the listing.

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