{"id":682865,"date":"2026-05-20T22:30:13","date_gmt":"2026-05-20T22:30:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/682865\/"},"modified":"2026-05-20T22:30:13","modified_gmt":"2026-05-20T22:30:13","slug":"spacex-files-for-long-awaited-public-stock-offering-that-could-make-elon-musk-a-trillionaire","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/682865\/","title":{"rendered":"SpaceX files for long-awaited public stock offering that could make Elon Musk a trillionaire"},"content":{"rendered":"

\n SpaceX revealed its long-awaited plans to go public<\/a> on Wednesday, shedding light on the finances and leadership of one of the largest, best-known and yet most secretive private companies in history.\n <\/p>\n

\n Elon Musk\u2019s rocket and satellite company revealed previously undisclosed details, including its board members, sales, profit, expenses and how it does business. It will trade under the ticker symbol SPCX.\n <\/p>\n

\n One thing it didn\u2019t disclose: How much the company expects to raise and what the company could be worth in what is widely predicted to be the biggest-ever initial public offering \u2013 perhaps by a factor of three.\n <\/p>\n

\n Those details will come later, just before it\u2019s set to go public. In the meantime, SpaceX delivered a compelling 277-page report<\/a> about one of the world\u2019s most ambitious \u2013 if perhaps Pollyannaish \u2013 businesses.\n <\/p>\n

\n In its prospectus, SpaceX outlined a bold mission: \u201cto build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars.\u201d\n <\/p>\n

\n To accomplish that, SpaceX said it will continue to rapidly manufacture and launch its fleet of satellites to power its Starlink communications technology. And it will \u201charness the Sun to power a truth-seeking artificial intelligence that advances scientific discovery, and ultimately to build a base on the Moon and cities on other planets.\u201d\n <\/p>\n

\n To do that, SpaceX will need to spend money. A lot of it. That\u2019s part of the reason it wants to borrow from investors.\n <\/p>\n

\n Despite the fact that SpaceX is a fast-growing company, its ambitions outstrip its current sales. It brought in $18.7 billion in revenue last year, up 33% from the previous year. But the company doesn\u2019t make money. After turning a $791 million profit in 2024, it swung back to a $4.9 billion loss in 2025. It lost $4.6 billion in 2023.\n <\/p>\n

\n Those losses will almost certainly continue in 2026: SpaceX said it has already lost $4.3 billion in the first three months of this year on $4.7 billion of revenue.\n <\/p>\n

\n The rocket business is expensive, but so is building massive amounts of AI infrastructure. SpaceX spent $20.7 billion last year, the bulk of which ($12.7 billion) was for AI. SpaceX spent $4.2 billion on Starlink and $3.8 billion on other space ventures, including rockets.\n <\/p>\n

\"The<\/p>\n

\n That capital expenditure nearly doubled the $11.2 billion SpaceX spent in 2024 and dwarfed the $4.4 billion it laid out in 2023.\n <\/p>\n

\n In the first three months of this year, SpaceX already spent $10.1 billion \u2013 $7.7 billion of which was on AI.\n <\/p>\n

\n But SpaceX doesn\u2019t expect to be losing money forever. The company outlined a massive potential revenue opportunity that it says could total $28.5 trillion \u2013 an opportunity that SpaceX called \u201cthe largest actionable total addressable market in human history.\u201d\n <\/p>\n

\n Included in that market are $370 billion in \u201cspace-enabled solutions,\u201d $1.6 trillion in connectivity, which includes $870 billion in broadband and $740 billion in mobile from its low-earth-orbit Starlink satellites and $26.5 trillion in AI.\n <\/p>\n

\"A<\/p>\n

\n That AI opportunity includes $2.4 trillion for its plan to launch data centers into space and $760 billion in potential consumer subscriptions. SpaceX also believes it has a $600 billion digital advertising potential and $22.7 trillion in what it calls \u201centerprise applications.\u201d\n <\/p>\n

\n Those beyond-wild numbers are typical of Musk\u2019s showmanship. But his company also launches rockets into space and lands boosters upright after they come careening back to earth on floating platforms for reuse, so investors in Musk\u2019s companies have some evidence of his surreal achievements as a basis for hope.\n <\/p>\n

\n The belief in SpaceX\u2019s AI capabilities led Musk to merge SpaceX with xAI, his artificial intelligence and social media company, in February. That deal valued the combined company at $1.25 trillion at the time.\n <\/p>\n

\n Musk won\u2019t be alone leading the company.\n <\/p>\n

\n For the first time, the company disclosed who is leading the company\u2019s board. Musk is the SpaceX\u2019s chairman, with President and Chief Operating Officer Gwynne Shotwell serving alongside him as a director. Other board members include CFO Bret Johnsen, venture capitalists Randy Glein, Steve Jurvetson, Luke Nosek and Ira Ehrenpreis \u2013 who also serves on Tesla\u2019s board \u2013 private equity CEO Antonio Gracias and Google executive Donald Harrison.\n <\/p>\n

\n The blockbuster IPO could bring in massive amounts of money for what\u2019s now dominant private-sector space company. And it could make Musk the world\u2019s first trillionaire.\n <\/p>\n

\n He owns a considerable chunk of the company. Between his 12.3% stake in common shares and 93.6% in Class B shares, which count for 10 votes each, Musk controls 85.1% of the company\u2019s voting power \u2013 pretty much guaranteeing he\u2019ll maintain control of at least a plurality of the votes after the IPO.\n <\/p>\n

\n Gracias, through his Valor Entities firm, is the company\u2019s second-largest shareholder, with 7.3% of SpaceX\u2019s common stock.\n <\/p>\n

\n Musk hasn\u2019t been paid much salary for his work: He\u2019s taken the same $54,080 in salary every year since 2019, the company revealed Wednesday.\n <\/p>\n

\n But SpaceX also said that he will be compensated in 15 tranches of 66,666,665 shares each if the company achieves various stock market valuation milestones in $500 billion increments up to $7.5 trillion \u2013 and establishes a permanent human colony on Mars with at least million inhabitants.\n <\/p>\n

\n Musk will only get those shares if the company achieves both targets \u2013 and if he remains employed with the company.\n <\/p>\n

\n After the xAI merger, SpaceX inherited some of Musk\u2019s compensation plan from his AI and social media company. SpaceX canceled that compensation and said it would instead grant him another 302 million shares if the company reaches several massive valuation milestones and launches data centers capable of delviering 100 terawatts of computing power each year.\n <\/p>\n

\n Musk founded SpaceX in 2002, initially entirely focused on building rockets and delivering payloads to outer space. It became a telecommunications company in 2021, with its first customers for Starlink, its satellite-based internet service.\n <\/p>\n

\n This story has been updated with additional details.\n <\/p>\n","protected":false},"excerpt":{"rendered":"SpaceX revealed its long-awaited plans to go public on Wednesday, shedding light on the finances and leadership of…\n","protected":false},"author":2,"featured_media":44608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[49,48,66,306],"class_list":["post-682865","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-ca","tag-canada","tag-science","tag-space"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/682865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=682865"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/682865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/44608"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=682865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=682865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=682865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}