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Wed, 20 May 2026

Wed, 20 May 2026 SpaceX files for IPO that could make Elon Musk a trillionaire

Musk's rocket-maker and satellite internet provider will trade under the ticker SPCX
SpaceX, led by billionaire Elon Musk, has filed plans to go public on the US stock market, with an initial public offering (IPO) expected to be the largest in Wall Street history. The company values itself at $1.25 trillion and estimates its shares could be worth over $600 billion due to Musk's majority ownership. If successful, the IPO would make Musk a trillionaire, adding to his existing net worth of over $500 billion, which he achieved last year as Tesla's boss. SpaceX generated $18.6 billion in revenue last year but suffered a net loss of $4.9 billion. According to its financial statements, SpaceX has $102 billion in assets and carries $60.5 billion in debt. The company also faces over half a billion dollars in expected legal costs related to ongoing cases, including patent infringement claims, EU content moderation noncompliance, music copyright infringement, and data breach claims. SpaceX's AI ambitions have been marred by controversies, but its rocket business and Starlink satellite internet service are industry leaders. The company recently struck a deal with Anthropic, an AI competitor, which will pay $15 billion annually to access SpaceX's data centers in the American South for Musk's xAI firm. Musk has lost a high-profile lawsuit against rival OpenAI and its boss Sam Altman, who he accused of breaching a non-profit contract. The company is set to sell shares publicly soon.