Elon Musk is on course to become the world’s first trillionaire after SpaceX filed paperwork for a landmark initial public offering that could rank as the largest in Wall Street history.
The aerospace and satellite company is preparing to begin trading on the Nasdaq under the ticker “SPCX” on June 12, according to filings, in a move that could value the business at between $1 trillion and $2 trillion.
If achieved, the listing would catapult SpaceX into the upper tier of global corporate valuations and significantly increase Mr Musk’s already vast personal fortune.
The company, formerly known as Space Exploration Technologies Corp., has evolved from a rocket manufacturer into a sprawling space and communications empire, encompassing the satellite broadband service Starlink and the artificial intelligence venture xAI.
SpaceX has become one of the most closely watched private companies in the world, with investors drawn to its dominance in reusable rocket technology and rapidly expanding satellite internet network.
The firm reported nearly $5 billion in revenue in the first quarter of the year, a sharp acceleration compared with previous periods, driven largely by growth in Starlink subscriptions.
Starlink now serves more than 10 million users globally and has emerged as the company’s primary revenue engine, according to filings.
For the 2025 financial year, SpaceX is projecting total revenue of $11.4 billion, with satellite internet services accounting for most earnings.
Beyond its core launch and broadband businesses, SpaceX is also pursuing ambitious plans to build orbital data centres capable of processing artificial intelligence workloads in space.
The company argues that advances in reusable rockets could make large-scale orbital computing infrastructure economically viable, potentially reshaping the global AI and cloud computing industries.
Investor enthusiasm for the IPO reflects growing belief that SpaceX could become the dominant infrastructure provider in both space transportation and satellite-based connectivity.
Dan Coatsworth, head of markets at AJ Bell, said investors were “itching to snap up SpaceX shares” ahead of what could be the most significant market debut in history by capital raised.
He added that SpaceX had become the “poster child for the modern space economy”, a narrative that continues to attract strong institutional and retail interest.
If the valuation reaches the upper end of forecasts, it will mark one of the most dramatic wealth creations in modern financial history and further cement Mr Musk’s position as one of the most influential figures in global technology and industry.
The listing also comes amid heightened investor appetite for space and defence-adjacent technology, as governments and private firms compete to expand satellite infrastructure and secure orbital capabilities.
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