Elon Musk’s SpaceX has confirmed plans to sell shares in an initial public offering that could make the billionaire the world’s first trillionaire.
The American aerospace and artificial intelligence company, founded by Musk in 2002, filed paperwork on Wednesday confirming its intention to go public. Investor interest suggests the SpaceX IPO could be the largest in history.
The company is expected to begin trading on the Nasdaq in late June under the ticker symbol “SPCX.” The current record holder is Saudi Aramco, which raised US$29.4 billion from its 2020 IPO.
SpaceX — formally known as Space Exploration Technologies Corporation — has transformed rocket technology and satellite internet, becoming the world’s most successful commercial space company and a key partner to NASA.
The company generated US$18.6 billion in revenue in 2025. However, in the first quarter of 2026, it reported a US$4.27 billion loss on US$4.69 billion in revenue. Earlier this year, SpaceX acquired xAI, Musk’s artificial intelligence company, which had already merged with X (Twitter).
According to SpaceX, Musk will retain 85 per cent voting control and will serve as chief executive officer, chief technology officer and chairman. He also remains CEO of Tesla.
The IPO follows Musk’s high-profile involvement with the Trump administration, where he led the Department of Government Efficiency (DOGE), overseeing billions in spending cuts before departing in May 2025.
Analysts view the SpaceX listing as a barometer of investor sentiment toward Musk, already the world’s wealthiest person. The filing did not disclose the number of shares to be offered or their price.
Source: UPI
