SpaceX's IPO filing has shed light on the finances and operations of the world's largest private company, with the company aiming to go public in June on Nasdaq under the ticker symbol 'SPCX.'
The company is expected to set a record for the biggest stock debut and could make its founder, Elon Musk, the world's first trillionaire, with a target initial valuation of $1.5 trillion or more.
SpaceX lost $4.9 billion last year on revenue of $18.7 billion, with the financials telling two stories: an established business launching satellites and astronauts to space, and losses brought on by the February merger with artificial-intelligence startup xAI.
Musk has 85% control of the leadership and ownership, with the CEO being the biggest shareholder and controlled 85% of the voting power thanks to supervoting Class B shares.
The company's top executives hold stakes in the company that could make them billionaires, including President Gwynne Shotwell, who made $86 million last year, mostly in the form of stock options.
SpaceX's prospectus revealed dollar figures for payments to Musk's other companies, including Tesla, with the company purchasing $131 million of Cybertrucks and $506 million worth of Megapack energy storage products.
The company is also collaborating with Tesla on a massive chip factory called Terafab and on an artificial-intelligence project called Macrohard.
Government contracts accounted for about 20% of SpaceX's revenue last year, with clients including NASA, the Pentagon, and intelligence agencies.
Musk and certain significant investors have agreed to not sell their stock for 366 days after SpaceX starts trading, while other pre-IPO investors are held to a 180-day lockup.
