NEW YORK (Diya TV) — Elon Musk has unveiled plans for one of the largest stock offerings in history by taking his space company, SpaceX, public. The move could reshape the global space industry and push Musk closer to becoming the world’s first trillionaire.
A new company filing shows that SpaceX lost $2.6 billion from operations last year despite generating $18.7 billion in revenue. The company also reported continued losses during the opening months of this year. Still, investors are expected to show strong interest because of SpaceX’s dominance in commercial space launches and satellite internet services.
Reports estimate the initial public offering could raise around $75 billion. That would make it far larger than the 2019 public offering by Saudi Aramco, which raised $26 billion and currently holds the record for the world’s biggest IPO.
SpaceX said the money from the stock sale will help fund long-term projects aimed at sending humans to the moon and Mars. The company’s filing described its mission as protecting humanity from extinction-level threats.
“We do not want humans to have the same fate as dinosaurs,” the filing stated.
The prospectus also outlined an ambitious compensation package for Musk. Part of his stock awards would depend on SpaceX helping establish a permanent human colony on Mars with at least 1 million residents. The filing said Musk could receive additional stock if the company builds large data centers in space. To unlock his full compensation package, SpaceX would need to reach a market value of $7.5 trillion.
While SpaceX continues to lose money overall, its satellite internet division, Starlink, has become a major source of profit. The company reported that Starlink generated $4.4 billion in operating income last year. Starlink uses around 10,000 satellites in low Earth orbit to deliver internet service to roughly 10 million customers across 150 countries and territories.
Industry analysts view Starlink as one of the strongest parts of SpaceX’s business. The service has expanded rapidly in rural and underserved areas where traditional internet access remains limited.
The filing also revealed financial struggles tied to two businesses recently acquired by SpaceX: X and xAI.Some SpaceX investors criticized the acquisitions and described them as financial bailouts. The prospectus showed that xAI alone lost $6.4 billion in operations last year.
The losses have raised concerns about whether SpaceX may become financially stretched as it expands beyond rockets and satellite communications into social media and artificial intelligence.
SpaceX’s rocket and launch operations continue to depend heavily on government contracts. Over the past five years, the company has secured contracts worth about $6 billion from agencies including NASA and the Defense Department. The filing stated that about 20% of the company’s revenue last year came from the federal government.
Musk’s relationship with President Donald Trump has also drawn attention. Musk was one of Trump’s largest campaign donors and played a role in the administration’s government cost-cutting effort known as DOGE. Government ethics experts have questioned whether Musk’s political connections helped SpaceX secure favorable treatment in winning taxpayer-funded contracts.
The filing also confirmed that Musk will maintain strong control over SpaceX after the company goes public. He and select shareholders will hold a special class of stock that carries 10 votes per share. That structure will allow them to elect most of the company’s board of directors and control major corporate decisions.
SpaceX warned investors that the voting structure would limit their ability to influence company leadership and strategy. Musk’s annual salary remains relatively small at $54,080, unchanged since 2019. However, his wealth largely comes from stock ownership and performance-based awards tied to the value of his companies.
SpaceX plans to begin promoting the stock offering to investors through a Wall Street “road show” starting June 4.
