Topline
Elon Musk’s SpaceX confirmed in a Wednesday filing with the Securities and Exchange Commission it will take the company public, a multi-trillion-dollar move that could potentially turn Musk into the world’s first trillionaire.
Key Facts
Spacex’s IPO valuation could reach between $1.75 trillion and $2 trillion, according to multiple reports, which would best the previous all-time IPO valuation record of $1.7 trillion set by Saudi Aramco in 2019.
The filing states the company will go public this year, but does not have an exact date for the delivery of Class A shares.
SpaceX will trade on the Nasdaq exchange under the ticker symbol SPCX, according to Wednesday’s filing, which said shares will be offered to retail investors through trading platforms like Schwab, Fidelity, Robinhood, SoFi and E*Trade.
Forbes Valuation
We estimate Musk’s net worth at $807.7 billion as of Wednesday, making him the world’s wealthiest person by a large margin. Google’s Larry Page places behind Musk, with an estimated net worth of $316 billion.
Tangent
OpenAI is reportedly set to file for an IPO as soon as this week, setting up a showdown with Musk’s SpaceX, which is the parent company of xAI, though OpenAI is not expected to publicly list until September. OpenAI is targeting a roughly $1 trillion valuation.
Key Background
SpaceX generated $18.7 billion last year, a 33% increase year-over-year. The company also recorded over $4.9 billion in losses in 2025 and $4.3 billion in losses in the three months ended March 31. SpaceX’s capital expenditures surged to over $20 billion in 2025, up from the $11.2 billion recorded the previous year. Musk’s company has spent big money on artificial intelligence development and is looking to become the leading force in putting data centers in orbit, a practice Musk has claimed could offer “near-limitless sustainable power with less impact on Earth.” Google has reportedly discussed a rocket-launch deal with Musk’s company, looking to cash in on the orbital data centers experts have said could become a reality in the 2030s. SpaceX is also continuing to develop its AI supercomputer known as “Colossus” and recently announced an agreement for AI competitor Anthropic to access the multi-billion-dollar machine. Anthropic has also shown interest in partnering with SpaceX to build orbital data centers.
Further Reading
Musk’s SpaceX Will Give Anthropic Access To Its ‘Colossus’ Super Computer For AI Training (Forbes)
OpenAI Reportedly Could File For IPO This Week—Teeing Up Showdown With Musk’s SpaceX (Forbes)
