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His next attempt at it may come with SpaceX's upcoming initial public offering (IPO), planned for June of this year.In what could be the largest IPO in history, SpaceX may finally enter the public markets, and there may be a surprise for retail investors along the way. Here's the skinny on SpaceX's reported plans, and whether you should participate in the IPO and buy shares.Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »Image source: Getty Images.SpaceX wants to go public within the next few months and is getting its paperwork in order for regulators and bankers. Like any Musk endeavor, the process promises to be unique.For one, he is planning to raise the largest amount of money from an IPO in history, ranging from $40 billion to $80 billion, depending on investor appetite. The company says it wants to bring investors to its headquarters and launch facilities to showcase its manufacturing capabilities and possibly witness some rocket launches. It is a pitch on future growth for the space economy, including an ambitious plan for space-based data centers for artificial intelligence (AI).Retail investors may get a bigger-than-normal chance to buy into the SpaceX IPO. Instead of the usual 10% allocation to retail investors, SpaceX wants to allocate upwards of 30% of the IPO shares on offer to retail investors, potentially raising tens of billions of dollars from individuals, along with the likely institutional investments. This will give many out there who use basic brokerage services like Robinhood Markets a chance to buy in at the pre-determined IPO price, the same as Wall Street insiders.Lastly, Musk also wants SpaceX stock included immediately in stock market indices such as the Nasdaq-100, which investors can buy through exchange-traded funds (ETFs) like the Invesco QQQ Trust.Despite the hype around SpaceX -- and there is plenty of it -- investors should tap the brakes on buying SpaceX at the IPO. Just because you have the opportunity to buy something does not necessarily mean you should.SpaceX is targeting a valuation of $1.75 trillion at the IPO. It reportedly did $16 billion in revenue last year. 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