Elon Musk's SpaceX IPO filing is out
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SpaceX on Wednesday disclosed its filing for an initial public offering, ahead of an expected stock market debut next month.
Why it matters: This is expected to be the largest IPO ever, and could make Elon Musk the world's first trillionaire.
Catch up quick: Musk launched SpaceX in 2002 with the goal of one day colonizing Mars.
- Since then, it has become the world's most successful commercial space company by far and inspired rival efforts by billionaires like Jeff Bezos and Richard Branson.
- It has also become a major partner to NASA and created the Starlink satellite internet network.
- More recently, SpaceX acquired xAI — Musk's frontier lab that itself had just merged with X (formerly Twitter) — with plans to focus on orbital data centers.
- SpaceX filed its IPO confidentially with the SEC on April 1.
By the numbers: SpaceX financials are complicated, because of its recent merger with xAI (which itself recently merged with the company formerly known as Twitter).
- It reported a net loss of $4.9 billion on $18.67 billion in revenue for 2025, inclusive of the entire current business.
- For the first quarter 2026, it booked a $4.27 billion net loss on $4.69 billion in revenue.
- But there are giant greenshoots, including a $1.25 billion monthly contract with Anthropic for compute.
- Musk holds 85.1% of the voting power in SpaceX, thanks to a dual-class stock structure.
Look ahead: SpaceX is expected to begin trading in late June on the Nasdaq under the ticker symbol "SPCX."
- The filing doesn't disclose the number of shares being offered or a proposed price. Expect that to come in a couple of weeks via an amended filing.
Note: This is a breaking story. Check back here for updates.
