SpaceX has officially moved closer to launching one of the biggest IPOs in financial history after filing its public Form S-1 with the SEC. The listing could dramatically increase Elon Musk’s wealth and potentially make him the world’s first trillionaire.
SpaceX IPO Could Become the Biggest Ever
SpaceX is reportedly targeting a valuation between $1.75 trillion and $2 trillion, making it potentially larger than the record-breaking IPO of Saudi Aramco.
The company is expected to raise nearly $75 billion through the public offering, with trading likely to begin in mid-June 2026.
Despite Huge Revenue, SpaceX Reported Losses
The company generated approximately $18.67 billion in revenue during 2025, mainly driven by its satellite internet business Starlink.
However, SpaceX posted a net loss of around $4.9 billion due to massive investments in AI infrastructure, satellite expansion, and advanced computing systems connected to xAI.
Bitcoin Holdings Add Financial Volatility
SpaceX also revealed it holds over 8,000 Bitcoins in custody, making cryptocurrency a notable part of its financial portfolio.
The company warned investors that fluctuations in Bitcoin prices could significantly impact quarterly earnings reports.
Elon Musk Maintains Strong Control
Even after the IPO, Elon Musk will continue holding overwhelming voting control through Class B shares carrying higher voting rights.
Reports indicate Musk controls more than 85% of the company’s voting power, ensuring he maintains strategic authority over SpaceX decisions.
Starlink and AI Expansion Drive Growth
Starlink has rapidly expanded globally, reportedly reaching more than 10 million subscribers across multiple countries and territories.
Meanwhile, SpaceX’s integration with xAI reflects Musk’s growing focus on combining satellite technology, artificial intelligence, and advanced computing infrastructure into a broader technology ecosystem.
Reusable Rocket Technology Remains Key Advantage
SpaceX continues to dominate the private space industry due to its reusable rocket systems, which significantly reduce launch costs and improve operational efficiency compared to traditional aerospace companies.