SpaceX reported revenue of $18.6 billion last year while posting a net loss of $4.9 billion
SpaceX has unveiled plans to go public in the United States in what could become the largest IPO in Wall Street history. The Elon Musk-led aerospace and satellite communications giant is expected to list under the ticker symbol “SPCX” as early as next month.
The filing provides the clearest picture yet of the company’s financial position. SpaceX, officially known as Space Exploration Technologies, reported revenue of $18.6 billion last year while posting a net loss of $4.9 billion. In the first quarter of this year, the company generated $4.7 billion in sales but recorded a net loss of $4.3 billion.
Valued internally at around $1.25 trillion, the listing could significantly boost the wealth of Elon Musk, who already holds the title of the world’s richest person. Musk’s majority stake in the company is estimated to be worth over $600 billion, potentially pushing his overall net worth beyond the $1 trillion mark after the IPO.
Beyond its rocket launch business, SpaceX operates the Starlink satellite internet network and owns Musk’s AI venture xAI, which develops the Grok chatbot. Musk has indicated plans to dissolve xAI and integrate its AI ambitions directly within SpaceX.
The IPO filing also highlighted mounting legal and regulatory challenges. SpaceX disclosed expected legal costs exceeding half a billion dollars tied to multiple ongoing cases, including lawsuits alleging misuse of Grok to create sexualized deepfakes, patent infringement disputes, EU content moderation compliance claims, music copyright issues, and data breach allegations.
The company’s balance sheet shows $102 billion in assets, including rockets and infrastructure, alongside debt totaling $60.5 billion.
