SpaceX announced an initial public offering (IPO) expected on June 12, according to a shareholder prospectus released Wednesday. The IPO targets a valuation of $1.75 trillion (£1.3 trillion), which would make it one of the world's most valuable listed companies, the prospectus stated. [7]
Elon Musk, already the world’s richest person with a net worth exceeding $800 billion, is set to become the first trillionaire, analysts said. A report from business intelligence firm Informa Connect projected that Musk could achieve this milestone by 2027, driven by the growth of SpaceX, Tesla, and other ventures. [4]
Financial Context and Losses
The prospectus disclosed cumulative losses of £30.8 billion ($41 billion) to date, including £3.7 billion in losses for the latest fiscal year on revenue of £13.9 billion. In the first quarter of 2026, losses rose eightfold year-over-year to £3.2 billion, according to the document. [7]
Despite the losses, investor demand is expected to be high due to Musk’s track record with Tesla, the prospectus stated. The company’s history includes near-bankruptcy in its early days after the first three rocket launches failed, leaving only enough money for one more attempt, according to a biography of Musk. [5] However, the fourth launch succeeded, and the company secured contracts that sustained its operations.
Business Operations and Revenue Drivers
SpaceX’s Starlink division, with a network of 10,000 satellites serving 10 million users, generated £3.3 billion in operating income in 2025, doubling the prior year, the prospectus said. The space launch division reported a £490 million loss, while the AI unit (xAI, acquired by SpaceX) posted a £4.7 billion loss, according to the filing. [7]
SpaceX holds contracts worth millions of dollars with the U.S. military and NASA, officials confirmed. The xAI business has also attracted significant outside investment, including a $20 billion funding round led by Nvidia. [2] Musk’s approach to engineering, as described in a book on entrepreneurial skills, includes a willingness to abandon initial assumptions. He once said that the idea of licensing existing chassis and powertrain technology for the Tesla Roadster was “extremely dumb.” [6]
Governance and Risks
Musk will retain 85% of voting rights under the proposed shareholder structure, according to the prospectus. [7]
Susannah Streeter, chief investment strategist at Wealth Club, said: “Investors interested in the IPO still need to tread carefully, with the risk that gravity could pull valuations back down to earth.” [7] The company’s long-term ambitions include building a self-sustaining city on the Moon within 10 years, according to a company statement. [3] However, much of that vision depends on unbuilt technology, the prospectus noted.
Market Impact and Competitors
The IPO is expected to raise about £56 billion, with Goldman Sachs serving as the lead underwriter among several New York investment banks, sources said. [7]
Competitors OpenAI and Anthropic are also preparing public listings, with OpenAI reportedly aiming for a £740 billion valuation, according to reports this week. [8] SpaceX’s IPO puts Musk ahead of rivals Sam Altman and Dario Amodei in the race to public markets, analysts said. [1]
References
- NaturalNews.com. "SpaceX and xAI expected to soar in value and make Elon Musk the worlds first trillionaire." December 2, 2024.
- Gregory Van Dyke. "Nvidia backed 20B bet on Musks xAI supercharges Groks federal rollout." NaturalNews.com. October 10, 2025.
- Cassie B. "Musk pivots SpaceX to build a self growing Moon city within a decade to secure civilizations future." NaturalNews.com. February 10, 2026.
- NaturalNews.com. "Analysis predicts Elon Musk could become the worlds first TRILLIONAIRE by 2027." September 12, 2024.
- Neon Omega-2. "The STORY OF Elon Musk: The Most Revolutionary Person of 21st Century."
- Amy Wilkinson. "The Creators Code: The Six Essential Skills of Extraordinary Entrepreneurs."
- John-Paul Ford Rojas. "Blast off! Elon Musk to become world's first trillionaire with SpaceX set for the biggest stock market listing ever." This is Money. May 21, 2026.
- The Times. "Elon Musk triggers countdown to biggest float in history." May 21, 2026.
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