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SpaceX sold 555,555,555 shares at $135 apiece. The company raised roughly $75 billion. The offering surpasses Saudi Aramco's $29.4 billion listing in 2019.
Elon Musk holds a stake worth around $866 billion. His net worth is expected to exceed $1.1 trillion once trading begins. After the IPO, Musk will retain roughly 42% of SpaceX. He is barred from selling those shares for one year under terms in financial filings. Combined with a Tesla compensation package approved last year, Musk is expected to move toward a net worth of $2 trillion in the upcoming years.
BlackRock sought to purchase at least $5 billion in stock. Other large fund managers placed sizeable orders.
SpaceX generated $18.7 billion in revenue. This marks growth of 33% from the previous year. Starlink served approximately 10.3 million users through 9,600 satellites. The company posted a net loss of $4.94 billion. This followed a profitable 2024, when earnings hit $791 million.
Changes to stock exchange rules are expected to pave the way for SpaceX to join major indices sooner than previous rules allowed. Many retirement accounts invest through index funds tracking benchmarks such as the Nasdaq and S&P 500. SpaceX is expected to become part of 401(k) portfolios.
SpaceX conducted a single launch in 2006. It now conducts more than two launches each week. This frequency helped secure its position as a launch provider for both NASA and the Pentagon.
The reusable Falcon 9 rocket continues to underpin much of SpaceX's business. Falcon Heavy uses three Falcon 9 boosters. It lifts 64 metric tonnes into low-Earth orbit for military and deep-space missions. Starship remains under development as SpaceX pursues larger-scale human and cargo transportation.
SpaceX merged with xAI earlier this year. The company identified AI as a major opportunity. Adoption of xAI's services remains limited compared with competitors. A report from finance startup Ramp showed over 30% of its business customers paid for products from Anthropic and OpenAI in April. xAI's adoption rate stood at around 5%.