A report by The Information revealed that Elon Musk increased his stake in SpaceX last year by buying $1.4 billion worth of stock from current and former employees. The secondary stock purchase, made through Musk’s trust, was disclosed in a draft of SpaceX’s confidential IPO prospectus, according to the report.
SpaceX also approved a plan that would award the billionaire CEO 60 million additional shares if the company’s market capitalization climbs from $1.1 trillion to as high as $6.6 trillion and completes an ambitious plan of building data centers in space to supply compute for AI developers. The stock would vest as SpaceX increases its market cap in $500 billion increments.
SpaceX, which recently confidentially filed for an IPO, generated about $8 billion in profit last year on revenue of $15 billion to $16 billion, according to Reuters.
READ: SpaceX IPO: Elon Musk’s rocket giant files confidentially (April 1, 2026)
With its IPO, SpaceX’s potential debut could be historic. Sources suggest the company may target a valuation of more than $1.75 trillion, making it one of the largest stock market listings ever. The filing follows SpaceX’s merger with Musk’s AI venture, xAI, in a deal that valued SpaceX at $1 trillion and xAI at $250 billion.
According to reports, SpaceX plans to strengthen Musk’s control over the company, granting him and a small group of insiders super-voting shares that will outweigh those of other investors. The prospectus, which was filed confidentially this month, provides fresh details of the company’s financials and corporate governance.
Musk will remain Chief Executive Officer and Chief Technical Officer upon the completion of the offering. He will also serve as Chairman of SpaceX’s nine-member board of directors.
After the company’s stock market debut, Musk is expected to gain billions in equity following SpaceX’s IPO. The company is targeting a listing valuation of roughly $1.75 trillion, with a $75 billion raise, making it one of the largest initial public offerings in history.
READ: Is Elon Musk trying to influence SpaceX’s valuation ahead of IPO (February 3, 2026)
The IPO is being led by executives who will host three days of meetings planned this week for Wall Street analysts. The meetings will commence with a tour and briefings at SpaceX’s Starbase launch facility in Boca Chica, Texas.
According to filing excerpts reviewed by Reuters, SpaceX will use a dual-class equity structure, giving Class B shareholders 10 votes each, concentrating power with Musk and a handful of other insiders. Class A shares, which will be sold to public investors, will carry a single vote each.
The report also highlights provisions that could limit shareholders’ ability to influence board elections or pursue certain legal claims, forcing disputes into arbitration and restricting where they can be brought.