Musk's SpaceX discloses filing for initial public offering
· UPIMay 20 (UPI) -- SpaceX, the American aerospace and artificial intelligence company founded by Elon Musk, on Wednesday confirmed plans to sell shares of its stock in an initial public offering that could make Musk a trillionaire.
Investor interest indicates the SpaceX IPO could be the biggest ever, Axios reported.
The company will likely begin trading on the Nasdaq in late June, under the ticker symbol "SPCX." The current largest IPO was for Saudi Aramco, a Middle Eastern oil company that made $29.4 billion from its IPO in 2020, NBC News reported.
Musk founded the company (full name: Space Exploration Technologies Corporation) in 2002. SpaceX has made many advances in rocket technology and satellite internet, becoming the world's most successful commercial space company and a partner to NASA.
In 2025, the company made $18.6 billion in revenue, but in the first quarter of 2026, it reported a $4.27 billion loss on $4.69 billion in revenue. Earlier this year, SpaceX acquired xAI, Musk's artificial intelligence company, and merged the two. xAI was itself previously merged with X (Twitter).
Musk will own 85% voting control of the company and be CEO, chief technology officer and chairman, SpaceX said after the filing. He is also the CEO of Tesla.
This IPO comes after Musk's involvement with the administration of President Donald Trump, in which he served as leader of the Department of Government Efficiency and made billions in cuts to U.S. programs amidst many controversies. Musk left DOGE in May 2025.
The SpaceX IPO will be a test of investors' feelings for Musk, who is the world's wealthiest person, NBC News reported. The IPO did yet not say how many shares the company will offer or their cost.