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New details revealed in SpaceX IPO that could make Elon Musk a trillionaire

Nypost · · 678 words · By Taylor Herzlich
Wealth inequality Corporate Governance and Control Financial Stability
open_in_new Read the original article: https://nypost.com/2026/05/21/business/new-details-revealed-in-spacex-ipo-that-c…

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18 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 8
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“The Texas-based company filed paperwork Wednesday to go public on Nasdaq next month under the ticker SPCX at an expected valuation around $1.5 trillion”
CORROBORATED
Multiple independent sources (ZeroHedge, and two other web search results) confirm that SpaceX filed paperwork to go public on Nasdaq under the ticker SPCX with a projected valuation of $1.5 trillion.
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web search NEUTRAL — Update (1650ET): As expected, SpaceX filed its S1. The stock is expected to list on Nasdaq and Nasdaq Texas under the ticker “SPCX.”But, with expectations of a $1.5 trillion market cap, that means SPC…
https://www.zerohedge.com/technology/watch-watch-spacexs-ipo…
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web search NEUTRAL — SpaceX publicly filed its S-1 registration statement with the Securities and Exchange Commission on Wednesday, formally beginning the process of listing on the Nasdaq $NDAQ exchange under the ticker s…
https://qz.com/spacex-ipo-sec-filing-nasdaq-spcx-052026
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web search NEUTRAL — Elon Musk’s SpaceX on Wednesday filed paperwork to go public next month, aiming for an out-of-this-world valuation projected around $1.5 trillion – the biggest IPO in history.
https://nypost.com/2026/05/20/business/elon-musks-spacex-rea…
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“SpaceX’s sprawling businesses include artificial intelligence company xAI, satellite-internet business Starlink and social media platform X.”
MISLEADING
While SpaceX owns Starlink, xAI and X (formerly Twitter) are separate companies founded/owned by Elon Musk, not subsidiaries of SpaceX. The evidence for claim 3 mentions 'SpaceX, including X and xAI' in the context of a filing, but corporate structures generally treat these as distinct entities under Musk's control rather than SpaceX owning them.
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web search NEUTRAL — SpaceX, NASA, and the United States Armed Forces work closely together by means of governmental contracts. [11] SpaceX was founded by Elon Musk in 2002 with a vision of decreasing the costs of space l…
https://en.wikipedia.org/wiki/SpaceX
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web search NEUTRAL — SpaceX designs, manufactures and launches advanced rockets and spacecraft. The company was founded in 2002 to revolutionize space technology, with the ultimate goal of enabling people to live on other…
https://www.spacex.com/
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web search NEUTRAL — 3 days ago · SpaceX is targeting a Thursday, May 21, launch for its newest Starship design, the Starship V3 megarocket. See our latest updates here.
https://www.space.com/news/live/spacex-starship-flight-12-la…
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“The company reported losing $4.9 billion last year on revenue of $18.7 billion”
CORROBORATED
Two independent sources explicitly state that SpaceX disclosed a net loss of $4.9 billion on $18.7 billion in revenue last year.
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web search NEUTRAL — NurPhoto/Getty Images SpaceX filed for its long-awaited IPO on Wednesday, disclosing a net loss of $4.9 billion on $18.7 billion in revenue last year.
https://finance.yahoo.com/markets/stocks/articles/spacex-fil…
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web search NEUTRAL — OpenAI recorded over $13 billion in revenue last year. But it still expects to spend $115 billion over the next four years. And Sam Altman, its C.E.O., and Sarah Friar, its C.F.O., have disagreed over…
https://www.nytimes.com/2026/05/21/business/dealbook/spacex-…
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web search NEUTRAL — The filing shows Musk's SpaceX generated about $18.7 billion in revenue but recorded an operating loss of $2.6 billion ($4.9 billion net loss) after heavy spendings on AI technologies and a bigger roc…
https://www.dw.com/en/elon-musks-spacex-files-to-go-public-i…
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“In the first quarter of 2026, the company lost $4.3 billion on revenue of $4.7 billion, Wednesday’s securities filing showed.”
CORROBORATED
Three independent sources (WIRED, NPR, and another web result) confirm that the filing showed a loss of approximately $4.3 billion on revenue of $4.7 billion for the first quarter of the year.
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web search NEUTRAL — SpaceX, including X and xAI, generated nearly $4.7 billion in revenue and lost almost $4.3 billion in the first quarter of this year, according to the filing.
https://www.wired.com/story/spacex-ipo-anthropic-compute-fin…
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web search NEUTRAL — Financial disclosures show SpaceX generated nearly £3.7 billion ($4.7 billion) in revenue during the first quarter of this year, alongside losses of almost £3.4 billion ($4.3 billion).
https://www.ibtimes.co.uk/anthropic-spacex-ai-compute-deal-1…
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web search NEUTRAL — The filing show SpaceX is spending eye-watering amounts of money to fulfill those ambitions.Overall, the company reported a net loss of nearly $4.3 billion between January and March on total revenue o…
https://www.npr.org/2026/05/20/nx-s1-5812731/elon-musk-space…
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“SpaceX recently signed a deal with AI rival Anthropic to rent out its two data centers for $15 billion a year through May 2029”
CORROBORATED
Three independent sources confirm the deal with Anthropic to pay $1.25 billion per month ($15 billion per year) through May 2029 for compute/data center access.
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web search NEUTRAL — Anthropic has agreed to pay SpaceX $1.25 billion per month through May of 2029 for access to cloud computing infrastructure, a long-awaited US regulatory filing revealed on Wednesday.
https://www.wired.com/story/spacex-ipo-anthropic-compute-fin…
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web search NEUTRAL — Anthropic is paying SpaceX $1.25 billion per month through May 2029 as part of the massive compute deal the companies signed earlier this month.
https://www.axios.com/2026/05/20/anthropic-spacex-compute
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web search NEUTRAL — The agreement mandates that Anthropic pay SpaceX £980 million ($1.25 billion) every month until May 2029. This equates to £11.8 billion ($15 billion) annually and underscores how compute access has be…
https://www.ibtimes.co.uk/anthropic-spacex-ai-compute-deal-1…
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“Its total capital expenditures reached $20.7 billion last year, including $12.7 billion from xAI and a combined $8 billion from SpaceX’s launch and satellite businesses.”
CORROBORATED
Multiple sources confirm the total capex of $20.7 billion, with $12.7 billion attributed to AI (xAI) and $8 billion to launch and satellite businesses.
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web search NEUTRAL — The company’s launch and satellite businesses burned through combined $8 billion in capex last year while its AI business spent $12.7 billion. SpaceX is rushing to finish building its new Starship roc…
https://nypost.com/2026/05/20/business/elon-musks-spacex-rea…
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web search NEUTRAL — SpaceX spent $20.7 billion last year, the bulk of which ($12.7 billion) was for AI. SpaceX spent $4.2 billion on Starlink and $3.8 billion on other space ventures, including rockets. The SpaceX logo i…
https://www.cnn.com/2026/05/20/business/spacex-files-for-sto…
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web search NEUTRAL — SpaceX’s revenue soared to $18.7 billion in 2025, up 33 percent from a year earlier, the company disclosed in a filing required of firms that are seeking to go public. In the first three months of thi…
https://www.nytimes.com/2026/05/20/technology/elon-musk-spac…
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“Musk – who has a net worth of $807.5 billion, according to Forbes”
CORROBORATED
Multiple sources, including a reference to Forbes and a Wikipedia entry on Musk's wealth, place his net worth in the $800 billion range (specifically $807.5B - $809B).
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web search NEUTRAL — Elon Musk is the wealthiest person in the world, with an estimated net worth of US$636 billion as of March 2026, according to the Bloomberg Billionaires Index, and $809 billion according to Forbes, pr…
https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk
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web search NEUTRAL — Elon Musk. Tesla, SpaceX.Forbes’ Real-Time Billionaires ranking tracks the daily ups and downs of the world’s richest people. The wealth-tracking platform provides ongoing updates on the net worth and…
https://www.forbes.com/real-time-billionaires/
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web search NEUTRAL — Elon Musk has a net worth of over $800 billion.Musk's current net worth is approximately $807.7 billion, according to Forbes.
https://www.ibtimes.co.uk/spacex-ipo-interplanetary-travel-1…
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“He controls a whopping 85% of SpaceX’s voting power”
CORROBORATED
Three independent news organizations (Deutsche Welle, CNBC, France24) confirm that Musk controls approximately 85% of the voting power.
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cross reference SUPPORTS — Musk would control some 85% of voting power while holding around 42% of equity.
https://www.dw.com/en/elon-musks-spacex-files-to-go-public-i…
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cross reference SUPPORTS — The prospectus also showed Musk controls 85% of voting power
https://www.cnbc.com/2026/05/21/5-things-to-know-before-the-…
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cross reference SUPPORTS — Musk... is set to control about 85 percent of voting power while holding around 42 percent of equity.
https://www.france24.com/en/business/20260521-elon-musk-eyes…
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“holding a vast trove of Class B shares, which get 10 votes for every single vote held by Class A shares.”
CORROBORATED
Three independent sources (Business Insider, ZeroHedge, Benzinga) confirm the dual-class structure where Class B shares have 10 votes and Class A shares have 1 vote.
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web search NEUTRAL — Musk’s Class B shares will carry 10 votes per share. More importantly, Class B shareholders will retain the right to elect a majority of SpaceX’s board of directors regardless of the outcome of broade…
https://www.benzinga.com/markets/ipos/26/05/52714223/spacex-…
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web search NEUTRAL — Others focused on governance concerns. Musk plans to remain CEO, chief tech officer, and chairman after the IPO, while maintaining control through a dual-class structure that gives Class B shares 10 v…
https://www.businessinsider.com/how-to-buy-spacex-ipo-retail…
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web search NEUTRAL — Dual-class structure: Class A (1 vote/share) and Class B (10 votes/share). Elon Musk (founder, CEO, CTO, Chairman) will retain dominant voting control post-IPO (majority of the board via Class B and o…
https://www.zerohedge.com/technology/watch-watch-spacexs-ipo…
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“In January, SpaceX gave Musk a package worth 1 billion Class B shares that will vest if the company establishes “a permanent human colony on Mars with at least one million inhabitants.””
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to confirm the claim regarding a 1 billion Class B share package tied to a Mars colony.
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“There are also rewards for hitting a $7.5 trillion market cap and building “non-Earth-based data centers.””
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“Last year, SpaceX bought $131 million worth of Cybertrucks from Tesla and $506 million worth of Megapack energy storage products from the EV maker.”
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“From early 2024 through February of this year, Musk’s xAI has paid Tesla about $731 million.”
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“SpaceX and Tesla are also partnering on a chip factory in Texas called Terafab and an AI-driven software project known as Macrohard.”
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“Federal departments including NASA and the Pentagon have also given SpaceX a boost, accounting for roughly 20% of the company’s revenue.”
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“The National Reconnaissance Office... is also a SpaceX customer”
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“Observers estimate SpaceX will raise at least $80 billion from the stock sale, expected on or around June 12.”
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“Musk and other major investors have agreed not to sell their stock for 366 days after SpaceX starts trading, while other pre-IPO investors are facing a 180-day lockup.”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.