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The only unlisted business there that could be considered among “the largest” is ByteDance. But they have a whole China thing going on, so not very representative of US/European markets.

I doubt any competitor to the largest businesses in US//Europe that is actually putting up good audited numbers is staying private. Even Stripe has been trying to go public, but it doesn’t have the numbers for the owners to want to yet.

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SpaceX hasn’t tried to go public , arguably being private has helped them ability to raise a lot of money from investors is key to their successes.

Their kind of product development [1] needs a long term thinking which public markets will not not support well

[1] ignore all the mars noise, just consider reusable i.e. cheap rockets and starlink

It’s never just about the company’s numbers, but the financial environment. When interest rates come down enough to tempt investors out of the money market, you’re likely to see a new wave of IPOs.

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