SpaceX Files for IPO That Could Make Musk a Trillionaire

SpaceX filed plans to go public in the United States, allowing investors to trade shares on the stock market.

The initial public offering is expected to be the largest in Wall Street history and could begin next month under the ticker symbol SPCX.

Elon Musk, who already ranks as the world's richest person, stands to become a trillionaire through his ownership stake if the offering proceeds.

SpaceX values itself at $1.25 trillion, and Musk's majority stake could be worth more than $600 billion.

The filing provides a detailed look at the company's finances. Last year Space Exploration Technologies recorded $18.6 billion in revenue but posted a net loss of $4.9 billion.

In the first quarter of this year the company reported $4.7 billion in sales and a net loss of $4.3 billion.

Its balance sheet lists $102 billion in assets, including rockets and equipment, and $60.5 billion in debt.

The filing notes that Grok, the chatbot developed by xAI, is under investigation after being used to generate sexualized deepfakes of women and girls in January.

Musk has said he plans to dissolve xAI and move his artificial-intelligence work under SpaceX.

SpaceX also owns X, the social media platform formerly known as Twitter that Musk bought in 2022.

The filing disclosed the terms of a recent deal between SpaceX and Anthropic, the developer of the Claude chatbot. Anthropic will pay $15 billion a year to use data centers in the American South for xAI, which SpaceX recently acquired.

The IPO filing came days after Musk lost a lawsuit against OpenAI and its chief executive, Sam Altman. A jury rejected Musk's claims that Altman had breached a non-profit agreement by turning the ChatGPT maker into a for-profit company. The panel found that Musk waited too long to file his 2024 suit.