The upcoming giant IPO could make Elon Musk the first trillionaire

Since it was founded by Musk in 2002, SpaceX has become NASA’s main launch partner. In addition to its huge contracts in the field of aviation, space and defense, the company also operates the Starlink satellite internet service and an array of about 10,000 satellites, as well as the artificial intelligence activity xAI, which acquired X, the social network formerly known as Twitter.

SpaceX said that it plans to register under the symbol SPCX on Nasdaq, after last April it submitted a confidential application to the American Securities and Exchange Commission. The offering is led by the investment bank Goldman Sachs.

The prospectus reveals the scope of the company’s business activity: revenues in the first quarter of the year grew by 15% and amounted to $4.69 billion, compared to $4.07 billion in the corresponding period last year. Annual revenues in 2025 jumped by 33% to 18.67 billion dollars. Alongside this, in the last quarter SpaceX recorded a net loss of 4.28 billion dollars, after losing 4.94 billion dollars during the whole of 2025.

SpaceX aims to reach the public market before the artificial intelligence company OpenAI and Anthropic, each of which is already valued at almost a trillion dollars by private investors, and are also considering going public in the coming year.

According to the prospectus, Musk currently holds 85% of the voting power in SpaceX, through 849.5 million Class A shares and 5.57 billion Class B shares. Apart from him, there is no person or entity that owns more than 5% of the company. If the IPO goes ahead according to the requested value, it could make Musk the first trillionaire in the world. According to the Bloomberg Billionaires Index, his fortune currently stands at approximately 667 billion dollars.