- SpaceX announced plans for a US IPO under the symbol SPCX, expected next month
- The company reported $18.6 billion revenue and $4.9 billion loss in the last fiscal year
- SpaceX’s assets total $102 billion, with debts amounting to $60.5 billion as per filing
Elon Musk's SpaceX has finally announced plans to go public in the United States. The company is known for building rockets, running the Starlink satellite internet service and owning the AI company - xAI. In its IPO filing on Wednesday, SpaceX revealed heavy spending and losses linked to artificial intelligence projects.
The company believes its future growth will come from advanced technologies such as Mars missions and AI-powered data centers in space. The IPO, expected to trade under the symbol SPCX, could become the biggest stock market launch in Wall Street history next month.
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Musk May Become Trillionaire
With this, Musk could become the world's first trillionaire after SpaceX goes public in the United States. SpaceX has valued itself at $1.25 trillion and Musk's majority stake is estimated to be worth more than $600 billion, according to BBC.
Musk, who also leads Tesla, became the first person to cross a net worth of $500 billion last year. As per Bloomberg's Billionaire's Index, his current net worth stands at $676 billion. As a result, analysts believe that the upcoming SpaceX IPO could push his total wealth above $1 trillion.
SpaceX Financials
The filing offers a long-anticipated look at the financial state of SpaceX. Last year, the company earned $18.6 billion in revenue while recording a net loss of $4.9 billion. In the first three months of this year, SpaceX made $4.7 billion in sales but still posted a $4.3 billion loss. Its balance sheet shows $102 billion in assets, including rockets and equipment, along with debts of $60.5 billion.
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The company also warned of more than $500 million in possible legal costs linked to several lawsuits involving Grok, the AI chatbot. Of SpaceX's three divisions, only the connectivity segment powered by satellite internet unit Starlink was profitable in the first three months of the year.
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