SpaceX Wants to IPO US$1.75 Trillion, Elon Musk Closer to Becoming a Trillionaire

Elon Musk will get richer after SpaceX's $1.75 trillion IPO. (Wikimedia Commons - NORAD and USNORTHCOM)

JAKARTA - SpaceX is preparing to list on the United States stock exchange with a valuation of around US$1.75 trillion. This plan could make Elon Musk closer to becoming a trillionaire.

According to a report by The Guardian, quoted on Friday, May 22, Musk's rocket and satellite company opened an investor prospectus on Wednesday. For the first time, SpaceX also revealed details of its financial condition.

SpaceX plans to list on Nasdaq under the ticker SPCX, likely on June 12. The company is targeting up to $80 billion in investment.

With a rate of around Rp17,700 per US dollar, the US$1.75 trillion valuation is equivalent to approximately Rp30,975 trillion. Meanwhile, the investment target of US$80 billion is equivalent to around Rp1,416 trillion.

The company is known as one of the most prominent rocket makers in the world. SpaceX also has many contracts with the US government.

The IPO paperwork was beforehand filed in secret final month. The submitting gave regulators time to overview the paperwork earlier than particulars have been made public.

In the document, SpaceX said its mission is to build systems and technologies so that human life can become multiplanetary, understand the universe, and "expand the light of consciousness to the stars".

Since its inception in 2002, SpaceX has grown to become the most valuable asset in Musk's business empire. This IPO has the potential to make Musk, who according to Forbes has a net worth of US$807 billion, closer to becoming a trillionaire.

The prospectus also opens up SpaceX's financial side, which has been closed. The company is pouring billions of dollars into artificial intelligence or AI. Its capital spending last year was more than US$20 billion, while revenue in 2025 reached US$18.7 billion.

In the first three months of 2026, SpaceX recorded a loss of more than US$4.2 billion.

SpaceX's strongest business currently comes from the connectivity segment, including the Starlink satellite internet service. This segment generated revenue of more than US$3.2 billion from January to the end of March 2026. Throughout 2025, its revenue reached US$11.4 billion.

For years, SpaceX has been known for its mission to bring humans to Mars. However, the document shows that the company's focus has also expanded to data centers in orbit to support the AI explosion and the expansion of the Starlink service.

In February, SpaceX also acquired xAI, Musk's AI company.

The announcement comes after Musk lost a legal case against OpenAI and its CEO, Sam Altman. After a three-week trial, a federal jury found Altman and OpenAI not liable for Musk's allegations of breach of the company's founding agreement and alleged unfair enrichment.

SpaceX's prospectus lists OpenAI and Anthropic as major competitors. This shows that SpaceX's business is no longer just based on rockets and satellites, but is also related to AI, data, and the space internet.

The three companies are said to be preparing to list on the exchange this year with valuations of hundreds of billions to more than one trillion US dollars. The IPO series is said to be one of the largest initial public offering periods in market history.