SpaceX, the aerospace giant led by Elon Musk, has officially begun steps toward one of the largest IPOs in history. The company filed regulatory documents signaling its intent to go public, with early market expectations valuing SpaceX at approximately $1.75 trillion. This debut could surpass previous records, including Saudi Aramco’s IPO, and make Musk the world’s first individual with a net worth exceeding one trillion dollars.
Despite generating $18.7 billion in revenue last year, SpaceX reported operational losses totaling $2.6 billion, with losses continuing into the current year. The IPO prospectus revealed that Musk and select shareholders will receive special voting shares granting 10 votes per share, securing their control over corporate decisions and board elections. The company warned that public investors will have limited influence over corporate governance.
SpaceX’s dominance in the aerospace sector remains substantial, accounting for over 80% of global rocket launches last year. The company’s recent operations included launching significant cargo missions to the International Space Station aboard Northrop Grumman’s Cygnus XL spacecraft, propelled by SpaceX’s Falcon 9 rocket. Looking ahead, SpaceX plans to use proceeds from the IPO to fund ambitious projects, such as establishing lunar bases, deploying large orbiting data centers, and eventually sending humans to Mars.
The IPO process will include a roadshow to attract investors, scheduled to begin about two weeks after the prospectus goes public. While the filing did not specify the exact amount SpaceX aims to raise, reports suggest a funding target near $75 billion. Founded in 2002, SpaceX’s rapid expansion has transformed it into the leading commercial spaceflight company worldwide.