Billionaire entrepreneur Elon Musk has revealed plans to take his aerospace company SpaceX public in the United States, a move that could mark the largest initial public offering in history and potentially make Musk the world’s first trillionaire.
According to a report by Reuters, SpaceX is targeting a US stock market debut as early as next month. The IPO could take place around June 12, with the company expected to list on Nasdaq under the ticker symbol SPCX.
The offering could raise nearly $75 billion at an estimated valuation of $1.75 trillion.
SpaceX designs and launches rockets, operates the Starlink satellite internet service, and owns Musk’s artificial intelligence firm, xAI. The company also controls X, formerly known as Twitter. Musk is also the chief executive of Tesla.
The IPO filing shows SpaceX values itself at $1.25 trillion. With Musk holding a majority stake, his shareholding could be worth more than $600 billion.
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Musk became the first person to cross a net worth of $500 billion last year, and the SpaceX listing could push his total wealth beyond $1 trillion.
Financials Revealed in IPO Filing
The IPO has provided the first detailed insight into SpaceX’s finances. Space Exploration Technologies Corp reported $18.6 billion in revenue last year, alongside a net loss of $4.9 billion. In the first quarter of this year, revenue reached $4.7 billion, while losses stood at $4.3 billion.
The balance sheet shows total assets of $102 billion, including rockets and infrastructure, with debt of $60.5 billion. Associated Press reported that while SpaceX posted operating losses of $2.6 billion, its Starlink business generated $4.4 billion in operating income.
Investors Weigh Growth Against Losses
Speaking to the BBC, venture capitalist Ruth Foxe Blader said it was not unusual for a company like SpaceX to remain loss-making at the IPO stage. She described the listing as “extremely exciting” and said the company’s long-term growth prospects were a major attraction for investors.
Legal and Regulatory Risks
SpaceX also disclosed more than $500 million in potential legal costs. Some cases involve allegations that Grok, an AI chatbot developed by xAI, has been used to generate sexualized deepfakes. Other risks include patent disputes, EU content moderation compliance, copyright claims, and data breaches.
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The filing warned that investigations into AI-generated abusive imagery could create regulatory and market access risks. Musk has said he plans to dissolve xAI as a standalone company and integrate his AI ambitions directly into SpaceX.
AI Rivalry and OpenAI Case
The filing also revealed a major deal with Anthropic, under which Anthropic will pay $15 billion annually for access to US-based data centers. SpaceX listed both Anthropic and OpenAI as key competitors as it expands further into artificial intelligence, according to The Guardian.
The IPO comes shortly after Musk lost a legal case against OpenAI and its chief executive Sam Altman, in which Musk alleged a breach of nonprofit commitments. A jury dismissed the case, citing delays in filing.
Scrutiny and Politics
As SpaceX prepares for another Starship launch this week, the company continues to face scrutiny over workplace safety. Musk has also drawn criticism for his political views and alignment with US President Donald Trump, with whom he recently traveled to China.
