April 2, 2026 — 10:37am Save Senior business columnist Musk, 54, who also runs electric carmaker Tesla and other companies, did not respond to a request for comment. A SpaceX spokesperson did not respond to a request for comment. Bloomberg earlier reported the filing. SpaceX, which Musk founded in 2002 with the goal of sending people to Mars, has grown into one of the world’s leading space companies. From the beginning, Musk has said SpaceX’s ultimate mission is to make humans a multi-planetary species, ensuring that life would thrive if something happened to Earth. Since then, SpaceX has launched rockets into space and established a popular satellite internet service, Starlink. The company’s customers include the US government, the Ukrainian military and many others. In the US, it accounts for five of every six launches into space, according to Georgetown University’s Centre for Security and Emerging Technology. Advertisement In February, Musk merged SpaceX with xAI, his AI company. The SpaceX umbrella now encompasses Starship, a self-landing rocket meant for Mars; Starlink; Grok, xAI’s chatbot; and X, the social network formerly known as Twitter. Money raised from an IPO would most likely help SpaceX finance its long-term goals of launching artificial intelligence data centres into orbit, creating a colony on the moon and getting humans to Mars. These are unproven endeavours that may take years and billions of dollars to achieve. If SpaceX’s valuation increases in public trading, he could become the world’s first person with a 13-figure net worth. SpaceX has also discussed using some of the money raised from an IPO to fund xAI and its working capital, one of the people said, as well as to buy up and expunge the debt that Twitter borrowed when Musk bought the social media company in 2022. Bankers have pushed SpaceX to hold at least $US15 billion to $US20 billion in cash, the person said. A confidential filing means that the financials of the company are not disclosed until later. In June, Musk posted on social media that he expected SpaceX’s revenue to reach $US15.5 billion in 2025, with about $US1.1 billion of that coming from NASA. Advertisement Total revenue would be up from $US7.4 billion in 2023, according to documents obtained by The New York Times. Starlink alone generated $US8 billion in sales in 2024, according to the documents. View post on X