Elon Musk’s SpaceX is preparing for a public listing in the United States that could become the biggest stock market debut in Wall Street history and push the billionaire closer to becoming the world’s first trillionaire.
The company, formally known as Space Exploration Technologies, has filed plans for an initial public offering that would allow investors to buy and sell its shares on the open market. The listing could begin as soon as next month under the ticker symbol SPCX, giving the public access to one of the world’s most closely watched private technology firms.
SpaceX is best known for its rocket launches and its Starlink satellite internet network, but its business interests have expanded far beyond spaceflight. The company also owns Musk’s artificial intelligence firm xAI, as well as X, the social media platform formerly known as Twitter.
The filing values SpaceX at $1.25 trillion. Musk’s majority stake could be worth more than $600 billion, a figure that may lift his overall net worth above $1 trillion when combined with his holdings in Tesla and other ventures. Musk became the first person to reach a net worth of more than $500 billion last year.
The documents also give a rare view of SpaceX’s financial position. The company generated $18.6 billion in revenue last year but posted a net loss of $4.9 billion. In the first quarter of this year, sales reached $4.7 billion, while losses widened to $4.3 billion. SpaceX reported $102 billion in assets, including rockets, equipment, and infrastructure, alongside $60.5 billion in debt.
The company also warned of more than $500 million in expected legal costs from several ongoing claims. These include patent disputes, alleged music copyright infringement, data breach claims, and accusations of failing to comply with European content moderation rules.
Some lawsuits centre on Grok, the chatbot created by xAI, with claims that it has been used to produce sexualised deepfakes of real women and girls. The filing also disclosed a major data centre deal with Anthropic, the AI company behind Claude.
The IPO comes as SpaceX prepares another Starship launch and as Musk faces continued scrutiny over workplace safety, legal battles, and his political ties.