Historic IPO.. SpaceX submits its listing file on the stock exchange and tests “Starship” | economy

SpaceX, owned by billionaire Elon Musk, has filed for listing on the stock exchange, in a step that paves the way for what may be one of the largest initial public offerings in the history of financial markets, coinciding with its preparations to launch a new version of its giant rocket, “Starship.”

Documents submitted to the US Securities and Exchange Commission revealed for the first time extensive financial details about the company, showing revenues amounting to $18.7 billion during 2025, compared to an operating loss amounting to $2.6 billion as a result of huge investments in developing the new generation of missiles and artificial intelligence technologies.

The company is active in several fields, including rocket launches, the “Starlink” satellite Internet service, in addition to the “XAI” artificial intelligence laboratory and the “X” platform.

Although SpaceX did not reveal the value of the funds it aims to raise from the public offering, media reports suggested that the size of the IPO would reach about $75 billion, while the company’s market value could reach $1.75 trillion, a number that far exceeds traditional standards for technology and space companies.

The company informed its shareholders of implementing a 5-for-1 stock split, in a move aimed at reducing the share price before the expected offering.

According to the sources, the fair market value of the stock decreased to about $105.32 after the stock split, compared to $526.59 before the process.

The company plans to begin the official promotion of the IPO starting next June 4, with the offering being priced on June 11, followed by listing on the market on June 12, according to what Bloomberg reported.

Absolute control for Musk

The listing file confirmed the adoption of a dual-class share structure that ensures that full control of the company remains in Musk’s hands after the listing on the stock exchange, in a move aimed at avoiding governance-related conflicts that he previously faced at Tesla.

According to the documents, Musk will retain approximately 85% of the voting power despite owning only approximately 42% of the capital shares.

The document also revealed two huge bonus plans that could add at least $130 billion to Musk’s wealth, making him perhaps the world’s first trillionaire.

With ambitious conditions, including the establishment of a human colony on Mars with at least one million people.

The data showed that the Starlink service represents the group’s main source of revenue thanks to sales of Internet services via satellite.

New launch of “Starship”

In parallel with preparations for the IPO, SpaceX is preparing today, Thursday, to launch the latest version of the “Starship” rocket on a test flight that is the 12th within the program to develop the giant spacecraft.

The rocket is scheduled to take off from southern Texas at 17:30 local time, on its first flight in 7 months.

The height of the new version is 124 metres, that is, slightly longer than the previous model, while the company seeks during the mission to review the technical modifications and new improvements made to the missile.

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The flight is expected to take about 65 minutes, before the upper layer descends into the Indian Ocean after a suborbital path.

Moon bets and competition with China

The trip is of particular importance because NASA intends to use a modified version of “Starship” in its program to return to the moon within the “Artemis” project, which aims to send astronauts in 2028.

This comes amid concerns within the administration of President Donald Trump that the United States may lag behind China in the race to return to the moon.

Physicist Scott Hubbard, former director of a NASA research center, said, “The government made the decision to ally with private sector actors to return humans to the moon, and now these entities must prove their ability to accomplish the mission.”

For his part, analyst Antoine Gronier from Analysys Mason said, “If the launch is accomplished without obstacles, this will actually pave the way for new infrastructure and new contracts for exploring the moon.”

SpaceX and its competitor, Blue Origin, owned by billionaire Jeff Bezos, face major technical challenges, most notably the development of orbital refueling technologies, which is a fundamental step that has not yet been tested in long-term missions.

“We hope they succeed,” Hubbard said, describing the mission as a “huge technical challenge.”

Other major listings

Wall Street financial markets are anticipating an unprecedented wave of massive initial public offerings scheduled to be launched in the coming months, starting with Space, followed by its competitors, OpenAI and Anthropic.

These three massive IPOs, each valued at about a trillion dollars or more, represent an unprecedented event that entails risks.

OpenAI and Anthropic hope to raise $60 billion in the IPO, which is a huge amount compared to usual.

The three companies are preparing to enter the financial markets in light of escalating inflationary pressures and increasing geopolitical uncertainty as a result of the Middle East war.

However, these factors are not expected to hinder the entry of SpaceX, OpenAI, and Anthropic into the market.