SpaceX Files for Historic IPO as Company Seeks Largest Offering Ever
SpaceX has submitted its S-1 filing to the SEC, setting the stage for what could be the largest IPO in history, with revenues driven primarily by Starlink's billion-dollar quarterly profits and ambitious Mars colonization plans.
Record-Breaking IPO on Horizon
SpaceX submitted its S-1 filing to the SEC on May 20, setting the stage for what could be the largest IPO in history under the ticker "SPCX." The company reported 2025 revenue of $18.7 billion, up 33% year-over-year, driven primarily by Starlink's $1.2 billion quarterly profit, while its launch and AI-related divisions posted losses.
Financial Structure and Control
Elon Musk will retain 85% voting control through Class B shares, and his proposed compensation package includes 1 billion performance-based shares tied to achieving a permanent human colony on Mars with one million inhabitants.
Strategic AI Integration
The filing also reveals the integration of AI assets, including a $60 billion option to acquire the coding startup Cursor and $1.25 billion in monthly payments to Anthropic for cloud compute.