Elon Musk's SpaceX has filed for a US stock market listing expected to be the largest initial public offering in Wall Street history, with trading potentially beginning as early as next month under the ticker symbol SPCX.
The company has valued itself at $1.25 trillion. Given Musk's majority stake, his share alone could exceed $600 billion — pushing his total net worth past $1 trillion and making him the world's first trillionaire. He crossed the $500 billion mark last year.
The filing gives investors their first detailed look at SpaceX's finances. The company generated $18.6 billion in revenue in 2025 but posted a net loss of $4.9 billion. In the first quarter of 2026, sales reached $4.7 billion against losses of $4.3 billion, while the balance sheet shows $102 billion in assets and $60.5 billion in debt.
Legal exposure is significant. The filing flags over half a billion dollars in anticipated legal costs, including multiple lawsuits alleging that Grok has been used to generate sexualised deepfakes of real women and girls. Further claims cover patent infringement, EU content moderation failures, music copyright, and data breaches.
SpaceX's rocket business and Starlink satellite internet service remain industry leaders despite the controversies surrounding Musk and his AI ventures. The IPO comes days after Musk lost his high-profile lawsuit against OpenAI, with a jury unanimously dismissing his claims.