SpaceX Files for IPO That Could Push Musk Toward Trillionaire Status
SpaceX has filed plans to go public in the United States, setting up what could become the largest initial public offering in Wall Street history and potentially making Elon Musk the world’s first trillionaire.
SpaceX has filed plans to go public in the United States, setting up what could become the largest initial public offering in Wall Street history and potentially making Elon Musk the world’s first trillionaire.
The company, formally known as Space Exploration Technologies, is expected to list under the ticker symbol SPCX, with trading potentially beginning as soon as next month.
SpaceX valued itself at $1.25 trillion in the filing. Musk’s majority stake could be worth more than $600 billion after the listing, pushing his total net worth above $1 trillion. Musk, who also leads Tesla, became the first person to surpass a net worth of $500 billion last year. So yes, apparently the leaderboard of human capitalism needed another absurd boss level.
The filing offers the first detailed public look at SpaceX’s finances. The company reported $18.6 billion in revenue last year, alongside a net loss of $4.9 billion. In the first quarter of this year, it recorded $4.7 billion in sales and a net loss of $4.3 billion.
SpaceX listed $102 billion in assets, including rockets and equipment, and $60.5 billion in debt.
The company’s businesses include its rocket launch operations, the Starlink satellite internet service, social media platform X and Musk’s artificial intelligence company xAI. Musk has said he plans to dissolve xAI and pursue his AI ambitions under SpaceX.
The filing also disclosed more than $500 million in expected legal costs linked to multiple claims, including lawsuits alleging that xAI’s Grok chatbot was used to create sexualized deepfakes of real women and girls. Other cases listed include patent infringement, EU content moderation compliance, music copyright and data breach claims.
The filing revealed that Anthropic, the developer of Claude, will pay $15 billion a year to access data centers in the American South tied to Musk’s AI operations.
SpaceX’s rocket business and Starlink remain industry leaders, even as Musk’s AI projects and political profile have drawn growing scrutiny. The filing comes days after Musk lost a legal battle against OpenAI and Sam Altman, with a jury rejecting his claims that OpenAI breached its original nonprofit commitments.
SpaceX’s Starship rocket is expected to launch again this week, while the company continues to face criticism over workplace safety at its facilities.