SpaceX quietly files paperwork to go public

WASHINGTON -- SpaceX took a major step towards going public on Wednesday.

According to CNN, the company confidentially filed paperwork with the US Securities and Exchange Commission for an initial public offering.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its 2019 IPO.

The move for the IPO comes after SpaceX merged with Elon Musk's artificial intelligence company, xAI. The combined business value between the two companies is more than $1 trillion.

The AP reported that Musk owns 42% of SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close, with a net worth estimated by Forbes magazine at $823 million.

SpaceX did not respond immediately to a request for comment.

SpaceX has been busy of late. In late 2025, they rescued two astronauts who were stranded on the International Space Station after their Boeing Starliner had trouble.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.