Elon Musk's SpaceX has confidentially filed for its U.S. initial public offering, moving the billionaire closer to having a second publicly traded company.
Musk launched SpaceX in March 2002 using proceeds from PayPal's sale. The company achieved its first successful orbital launch with Falcon 1 in September 2008, becoming the first privately developed liquid-fuel rocket to reach Earth's orbit.
Key milestones include securing NASA's first major cargo contract in December 2008, achieving the first private spacecraft docking at the International Space Station in May 2012, and completing its 100th successful Falcon rocket flight by October 2020.
SpaceX began launching Starlink satellites in May 2019, creating a constellation for high-speed internet services. The company faced setbacks including rocket explosions in June 2015 and multiple Starship failures between 2023-2025.
In February 2026, SpaceX acquired Musk's AI startup xAI in a $250 billion deal, combining rocket operations with the Grok chatbot maker. The company now focuses on building a "self-growing city" on the moon.
NASA officials note Starship has accumulated at least two years of development delays since being selected as a lunar lander in 2021, requiring additional time before moon landing missions.
The IPO filing sets the stage for what could become the largest stock market flotation in history.