Elon Musk confirms SpaceX IPO plans, could value company at over $1 trillion

Planning to raise $30 billion at a $1.5 trillion valuation

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Forward-looking: Elon Musk has confirmed reports that SpaceX is planning to go public, possibly as early as next year. The CEO did not reveal any details, but reports suggest that he is aiming to raise more than $30 billion from the IPO, potentially valuing the company at more than $1 trillion.

The IPO plans were initially reported by The Wall Street Journal and The Information last Friday before Musk confirmed it on X this week. Replying to a post on the IPO rumors by Ars Technica Space Editor Eric Berger, Musk simply wrote that the reports are "accurate," but did not elaborate further.

According to Bloomberg, SpaceX is targeting a $1.5 trillion valuation for the entire company, including its fledgling satellite-based internet service, Starlink. Musk had earlier said that he plans to list Starlink as a separate entity once it becomes profitable, but did not offer a specific timeline.

An IPO would mark a major change in strategy for SpaceX, which has resisted persistent calls from investors to go public to unlock shareholder value. While Musk never offered an explanation for his reluctance to list SpaceX, reports suggest he is highly frustrated at the SEC over how it has scrutinized Tesla over the years.

Sources close to Musk also claim that he is more interested in landing a crewed spaceship on Mars than trying to comply with market regulations. After confirming the IPO plans, Musk seemingly reaffirmed his commitment to the Mars project by reposting an old SpaceX tweet promising to put a human on the Red Planet by the end of this decade.

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The SpaceX IPO is expected to make a ton of money for several early investors, including Google. The search giant reportedly bought a seven percent stake in the company in 2015 for $900 million, valuing the fledgling startup at $12 billion. If Musk gets his desired $1.5 trillion valuation, Google's stake will be worth a whopping $111 billion, making it one of the best investments ever in a startup.

Musk himself also stands to gain a windfall from the IPO, with his net worth of $460 billion expected to double to nearly a trillion. His 42 percent stake in SpaceX alone would be worth more than $625 billion, according to Bloomberg. Musk has long been tipped to become the first trillionaire, and the SpaceX IPO could finally make that prediction a reality.