SpaceX revealed its plans to go public, shedding light on the finances and leadership of one of the largest private companies in history. The company will trade under the ticker symbol SPCX.
Elon Musk’s rocket and satellite company disclosed previously undisclosed details, including its board members, sales, profit, expenses, and how it does business.
According to the report, SpaceX outlined a bold mission: “to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Financial Details
SpaceX brought in $18.7 billion in revenue last year, up 33% from the previous year. However, the company doesn’t make money. After turning a $791 million profit in 2024, it swung back to a $4.9 billion loss in 2025. It lost $4.6 billion in 2023.
Those losses will almost certainly continue in 2026: SpaceX said it has already lost $4.3 billion in the first three months of this year on $4.7 billion of revenue.
The company spent $20.7 billion last year, the bulk of which ($12.7 billion) was for AI. They spent $4.2 billion on Starlink and $3.8 billion on other space ventures, including rockets.
Leadership and Ownership
Elon Musk is the company’s chairman, with President and Chief Operating Officer Gwynne Shotwell serving alongside him as a director. Other board members include CFO Bret Johnsen, venture capitalists Randy Glein, Steve Jurvetson, Luke Nosek, and Ira Ehrenpreis – who also serves on Tesla’s board.
Musk owns a considerable chunk of the company. Between his 12.3% stake in common shares and 93.6% in Class B shares, which count for 10 votes each, Musk controls 85.1% of the company’s voting power.
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Gracias, through his Valor Entities firm, is the company’s second-largest shareholder, with 7.3% of the company’s common stock.
Compensation and Milestones
Musk hasn’t been paid much salary for his work: He’s taken the same $54,080 in salary every year since 2019.
However, the company said that he will be compensated in 15 tranches of 66,666,665 shares each if the company achieves various stock market valuation milestones in $500 billion increments up to $7.5 trillion – and establishes a permanent human colony on Mars with at least 1 million inhabitants.
Musk will only get those shares if the company achieves both targets – and if he remains employed with the company.
After the merger, the company inherited some of Musk’s compensation plan from his AI and social media company. They canceled that compensation and said it would instead grant him another 302 million shares if the company reaches several massive valuation milestones and launches data centers capable of delivering 100 terawatts of computing power each year, potentially leading to a significant increase in AI answers.
The company outlined a massive potential revenue opportunity that it says could total $28.5 trillion – an opportunity that the company called “the largest actionable total addressable market in human history.”
This opportunity includes $370 billion in “space-enabled solutions,” $1.6 trillion in connectivity, which includes $870 billion in broadband and $740 billion in mobile from its low-earth-orbit Starlink satellites and $26.5 trillion in AI.
The AI opportunity includes $2.4 trillion for its plan to launch data centers into space and $760 billion in potential consumer subscriptions. The company also believes it has a $600 billion digital advertising potential and $22.7 trillion in what it calls “enterprise applications,” which could be supported by extreme damage prevention measures.
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