Topline<\/p>\n
SpaceX filed plans to take the company public in paperwork with the Securities and Exchange Commission, offering rare insight into the finances of the aerospace giant owned by Elon Musk, whose compensation plan\u2014and massive voting power\u2014to establish a colony on Mars worried one analyst. <\/p>\n
A new filing offers rare insight into the finances of Elon Musk\u2019s aerospace giant. <\/p>\n
Getty ImagesKey Facts<\/p>\n
SpaceX, indicating plans to \u201cmake life multiplanetary,\u201d disclosed<\/a> on Wednesday that nearly 1 billion Class B shares would be awarded to Musk after the company achieves several market value milestones and after SpaceX establishes a \u201cpermanent human colony\u201d on Mars of at least 1 million residents.<\/p>\n Musk controls 85% of SpaceX\u2019s shareholder voting power with nearly 850 million Class A shares and 5.57 billion Class B shares, and no other person or entity has a larger stake than 5%, according to SpaceX\u2019s filing.<\/p>\n Jay Ritter, a finance professor at the University of Florida and director of its market research program, the IPO Initiative, told Forbes he was concerned that SpaceX would rely on Starlink profits to send people to Mars at \u201cenormous cost,\u201d and that \u201cenormous\u201d subsidies would be required to maintain a Mars colony.<\/p>\n \u201cIf [Musk] continues to have a great desire to colonize Mars, there is little that shareholders can do about it\u201d because of Musk\u2019s voting control, Ritter said, even as Musk has a duty to maximize shareholder value.<\/p>\n Musk\u2019s Trillionaire Status<\/p>\n Musk is the world\u2019s wealthiest person with an estimated net worth of $807.7 billion as of Thursday, and Forbes estimates Musk\u2019s SpaceX stock at nearly 40%. SpaceX\u2019s stock debut will all but guarantee Musk becoming the first person with a fortune of $1 trillion, as the company is expected to be valued between $1.5 trillion and $2 trillion in what\u2019s projected to be the largest-ever IPO. If SpaceX is valued at $1.5 trillion, that would value Musk\u2019s estimated stake at about $600 billion, increasing his net worth to just over $1.4 trillion. With a $2 trillion valuation, Musk\u2019s stake would be valued at roughly $800 billion, potentially pushing his fortune above $1.6 trillion.<\/p>\n Spacex Reveals Revenue Loss\u2014and Heavy Reliance On Starlink<\/p>\n SpaceX disclosed a net loss of $4.28 billion through its latest quarter after losing $4.94 billion in 2025. Starlink, the company\u2019s satellite internet business, accounted for 69% of SpaceX\u2019s first-quarter revenue at $4.69 billion. Connectivity, which includes SpaceX\u2019s Starlink business, is the only profitable part of the company after its space unit lost $619 million and its AI arm lost $2.5 billion.<\/p>\n Spacex\u2019s Monthly Billion-Dollar Payout From Anthropic<\/p>\n Anthropic will pay SpaceX $1.25 billion each month through May 2029 as part of a compute deal announced by the companies earlier this month. Anthropic will access more than 300 megawatts of compute capacity and \u201cexpressed interest\u201d in helping SpaceX develop multiple gigawatts of capacity in space. SpaceX also disclosed plans to deploy data centers in space as early as 2028. <\/p>\n Spacex Spends More On Ai Than Space<\/p>\n SpaceX\u2019s spending through its latest quarter totaled $10.1 billion, more than doubling from the previous year, with a majority of those costs ($7.7 billion) coming from AI. Capital expenditures for SpaceX\u2019s space business totaled just over $1 billion and $1.3 billion for its connectivity business. In 2025, SpaceX spent $12.7 billion on AI, compared to $3.8 billion on space.<\/p>\n Big Number<\/p>\n $28.5 trillion. That\u2019s how SpaceX values its addressable market, or the total amount of revenue it could make if it held all possible demand for the products or services it targets. SpaceX valued a $870 billion market for its broadband business, $740 billion for Starlink\u2019s mobile unit, $600 billion for X\u2019s digital advertising, $2.4 trillion for AI infrastructure and a $22.7 trillion market for enterprise applications. <\/p>\n Further ReadingForbesElon Musk\u2019s SpaceX Files For Highly Anticipated IPOBy Antonio Peque\u00f1o IV<\/a>ForbesSpaceX Could Face \u2018Musk Effect\u2019 With Major Risks After IPO, Analyst WarnsBy Ty Roush<\/a>ForbesMusk Closer To Trillionaire Status: SpaceX Files For IPOBy Ty Roush<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Topline SpaceX filed plans to take the company public in paperwork with the Securities and Exchange Commission, offering…\n","protected":false},"author":2,"featured_media":438794,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[516,109861,27113,109860,17449,111,139,69,147,392,1503,188177,224297,1504],"class_list":["post-438793","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-elon-musk","tag-elon-musk-mars","tag-elon-musk-net-worth","tag-mars-colony","tag-musk","tag-new-zealand","tag-newzealand","tag-nz","tag-science","tag-space","tag-spacex","tag-spacex-ipo","tag-spacex-mars","tag-starlink"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/438793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=438793"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/438793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/438794"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=438793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=438793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=438793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}