New details revealed in SpaceX IPO that could make Elon Musk a trillionaire

SpaceX’s IPO filing has revealed details into Elon Musk’s tight grip on his business empire, its multi-billion-dollar losses and the stock market debut that could crown him the world’s first trillionaire.The Texas-based company filed paperwork Wednesday to go public on Nasdaq next month under the ticker SPCX at an expected valuation around $1.5 trillion, which would make it the largest IPO in history.SpaceX’s sprawling businesses include artificial intelligence company xAI, satellite-internet business Starlink and social media platform X.But the world’s largest private company has questionable financials, including sizable losses over the past few years, according to details cited by the Wall Street Journal.The company reported losing $4.9 billion last year on revenue of $18.7 billion – and those losses are already widening as xAI burns through cash building expensive, power-hungry data centers.In the first quarter of 2026, the company lost $4.3 billion on revenue of $4.7 billion, Wednesday’s securities filing showed.

SpaceX recently signed a deal with AI rival Anthropic to rent out its two data centers for $15 billion a year through May 2029, the document revealed.Its total capital expenditures reached $20.7 billion last year, including $12.7 billion from xAI and a combined $8 billion from SpaceX’s launch and satellite businesses.Musk – who has a net worth of $807.5 billion, according to Forbes, making him by far the richest person in the world – has closely ruled over his tech empire, and SpaceX is no different.He controls a whopping 85% of SpaceX’s voting power and is the largest shareholder, holding a vast trove of Class B shares, which get 10 votes for every single vote held by Class A shares.Musk was already poised to land an unprecedented $1 trillion in compensation from his automaker Tesla if he meets a series of hard benchmarks.Similarly, the tech titan faces a series of lofty goals at SpaceX that will pay out big if achieved.In Janu...