SpaceX has just filed for what may be the largest initial public offering in human history

SpaceX generated revenue of $18.67 billion in 2025, largely driven by its Starlink satellite internet service, which brought in more than $11 billion. I mentioned before The Wall Street Journal. The company lost more than $4.9 billion last year, with capital expenditures rising to $20.7 billion last year, a jump from $11.2 billion in 2024. As I mentioned New York Times. xi, Which recently merged With SpaceX, it lost billions last year, while revenue increased 22 percent, according to TechCrunch.

According to Wall Street JournalMusk’s super-voting shares will give him 85 percent control of the company. In addition to Musk, SpaceX Chairman Gwynne Shotwell and CFO Bret Johnson, the SEC filing lists several other members of SpaceX’s board, including Google CEO Donald Harrison, Tesla board member Ira Ehrenpreis, and investors Randy Glein, Antonio Gracias, Steve Jurvetson and Luke Nosek.

SpaceX describes its mission to investors as follows:

Our mission is to build the systems and technologies needed to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars. To do this, we have formed the most ambitious, vertically integrated innovation engine on Earth (and beyond) with unparalleled capabilities to rapidly manufacture and launch space communications that connect the world, harness the sun to power truth-seeking artificial intelligence that advances scientific discoveries, and ultimately to build a base on the moon and cities on other planets.

It also tells them that SpaceX has “identified the largest addressable market (TAM) in human history,” worth $28.5 trillion, of which $370 billion is from space, $1.6 trillion in connectivity with Starlink Broadband and Starlink Mobile, $26.5 trillion in AI, which includes AI infrastructure, subscriptions, and advertising, and $22.7 trillion in enterprise applications.

For months, rumors had circulated that SpaceX was preparing for a historic market debut, with whispers about… The value is $1.75 trillion A record increase of $75 billion. Now that the papers are public, we finally have our first real look at the financials of the company that has normalized reusable rockets, built a monopoly on space internet, and recently absorbed Musk’s XAI and bulldozed Twitter into orbit.

This is a developing story….