SpaceX IPO: Elon Musk eyeing trillionaire status? Money maths explained here

Elon Musk’s SpaceX has filed for an initial public offering with the US Securities and Exchange Commission, paving the way for a possible Nasdaq debut as early as next month. The prospectus says the company plans to list under the symbol SPCX and aims to begin investor roadshows on 8 June.

With this filing, Elon Musk, already the richest man on the planet, can become the world's first ever trillionaire as his company SpaceX is all set to launch its primary offering, making the world's biggest market debut ever. SpaceX is eyeing a $1.25 trillion valuation, with Musk's stake valued around $600 billion, according to some media reports.

With the addition of this value, Elon Musk may become the world's first ever trillionaire with a net worth around $1.25-1.5 trillion as his current net worth is around $676 billion already. Musk had become the world's first even person to close $500 billion net worth last year. He controls more than 85 per cent voting rights in SpaceX and he is also CEO of Tesla, world biggest EV car maker.
 

SpaceX IPO: Key takeaways
The filing highlights three central issues around the offering: large losses, a heavy reliance on Starlink for revenue, and Musk’s strong control over voting power. After merging with xAI earlier this year, SpaceX was valued at $1.25 trillion, setting up what could be a record IPO.

SpaceX reported a net loss of $4.28 billion in the first quarter of this year, after losing $4.94 billion in full 2025. Revenue for the quarter rose 15 per cent to $4.69 billion. For the full last year, revenue grew 33 per cent to $18.64 billion. Capital expenditure in the quarter stood at $10.1 billion, more than double from last year, with $7.7 billion going towards AI and rest for space connectivity.

It has three business divisions: Space, Connectivity and AI. Of the $4.69 billion revenue reported in the latest quarter, 69 per cent came from Starlink, which contributed $3.26 billion and has more than 10.3 million subscribers. The connectivity business was the only profitable segment.

The space business posted a loss of $619 million, while the AI unit lost $2.5 billion. The company also spent $131 million on Tesla Cybertrucks in 2023 and bought $697 million worth of Tesla battery energy storage systems across 2024 and 2025. Goldman Sachs is listed as lead left on the prospectus, followed by Morgan Stanley, Bank of America, Citigroup and JPMorgan Chase.