New Delhi: Elon Musk’s SpaceX, known for being a secretive private company, revealed its plans to go public. The rocket and satellite company, in a 277-page report, disclosed several details, including board members, sales, profits, and expenses. With SpaceX’s initial public offering, Musk is set to become the world’s first trillionaire.
SpaceX will trade under the ticker symbol SPCX.
With this step, Musk, CNN reported, is going to establish a Pollyannaish business.
Investment for bigger projects
SpaceX has ambitious plans for the future. Starting from harnessing the sun to power a truth-seeking artificial intelligence that advances scientific discovery, to building a base on the moon and cities on other planets in the solar system.
“To build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars,” the company’s prospectus reads as per CNN.
However, for these projects, SpaceX needs money from investors.
Even though Musk’s company has continued to grow, its financial numbers tell a different story. In 2024, the company made a profit of $791 million, but the next year it faced losses of $4.9 billion. In 2023, it also faced losses worth $4.3 billion. Although revenue is up by 33 per cent in 2025 from previous years, reports suggest that the company has made losses in the first three months of 2026, costing almost $4.3 billion.
But Musk, the chairperson of SpaceX, will not be alone in this IPO, board members, the president and the chief operating officer will also be equal participants.
Musk, however, will continue to be paid $54,080 in salary every year, which he has received since 2019. This comes with conditions: Musk will be compensated in 15 tranches of 66,666,665 shares if SpaceX is able to build a permanent human colony on Mars with a million residents, and his compensation also depends on the company’s achievement of a stock market valuation.
In 2025, the company spent around $20.7 billion on AI SpaceX, StarLink satellite internet constellation and other space ventures.
In an effort to curb its losses, SpaceX has outlined a massive revenue opportunity. SpaceX could raise revenue of at least $28.5 trillion, by calling it “the largest actionable total addressable market in human history”.
In February 2026, Musk merged SpaceX with xAI, his artificial intelligence and social media company, increasing the value of the combined company by $1.25 trillion.
Also Read: Billionaire Jeff Bezos says ‘stop taxing the poor’. Elon Musk, Zohran Mamdani wade in
Trillionaire Musk
With SpaceX opening the IPO, X users are already talking about the future. Some are theorising that Sam Altman, CEO of OpenAI, will also file for an IPO soon.
In a detailed post, one X user warned shareholders before investing in SpaceX.
“Every retail investor who has waited 23 years for this moment gets their shot in June… They just have to decide if they are buying a company or buying one man’s unchecked vision of the future and hoping it matches theirs,” the post read.
“Musk steamrolling the biggest IPO while everyone coping on the same app he owns with literally zero profits feels like peak dot com reboot timeline,” read one post.
Another user on X posted a few photos from the report, which showed an “animated image of Elon Musk holding a Shiba Inu”.
SpaceX has yet to release how much the company is expecting to raise and what the company could be worth. The company said the details will be out before they go public in June.
(Edited by Insha Jalil Waziri)