SpaceX has long captured the attention of media, investors, and the public with its reusable rocket launches, Starlink satellite network, and founder Elon Musk. However, nothing in the company’s 24-year history compares to its recent initial public offering. The IPO, priced at $135 per share for 555.6 million shares, is set to raise $75 billion, making it the largest IPO in history. At this price, Elon Musk is projected to become the world’s first trillionaire.
The IPO also brings significant changes to the company’s structure and control. As CEO, Musk holds about 85.1% of the company’s voting power, giving him a monarchical grip over the publicly traded version of SpaceX. This level of control goes far beyond what other tech founders typically enjoy. Additionally, the IPO includes provisions that could affect future investors, with SpaceX warning of potential dilution after going public.
According to the S-1 filing, SpaceX reported a $4.9 billion loss on over $18 billion in revenues in 2025. This loss is part of a larger trend, with the company losing more than $37 billion since its inception. The filing also outlines SpaceX’s business model, which is dominated by its Starlink satellite internet offering and future prospects through its xAI division. The S-1 document also includes details about SpaceX’s financials and various business operations, providing an unprecedented look into the company’s strategy and challenges.
Source: techcrunch
