SpaceX may generate $1 trillion per year by 2030: Musk
What's the story
Elon Musk has predicted that SpaceX could rake in annual revenues of around $1 trillion by 2030. The ambitious target is about three times higher than Morgan Stanley's estimate for the newly listed rocket and artificial intelligence company. Responding to a revenue forecast from Morgan Stanley on X, Musk said SpaceX "might be able to reach approximately $1 trillion revenue in 2030."
Revenue projections
Morgan Stanley's projections for SpaceX
Morgan Stanley had projected SpaceX's revenue to hit $160 billion by 2028 and $330 billion by 2030. The brokerage also estimated that the company's revenue could soar to a whopping $3.4 trillion by 2040. Musk noted that he would be "surprised" if the company's annual revenue did not surpass the $1 trillion figure by 2031.
Market debut
Record $75 billion IPO
Just days ago, SpaceX raised a record $75 billion in its initial public offering (IPO). The company ended its first trading session with a valuation of $2.1 trillion, making it the sixth-largest listed company in the US. The successful listing also made Musk the world's first trillionaire based on his holdings after the IPO.
Financial outlook
SpaceX still loss-making post-IPO
SpaceX remains loss-making. The company posted a net loss of $4.9 billion in 2025 and an additional loss of $8.7 billion for the period through March 2026. The S-1 filing also warned that the company "may not achieve profitability." However, SpaceX's long-term growth case rests on a claimed total addressable market of $28.5 trillion, with AI accounting for about 90% of it.
Governance concerns
Concerns over governance structure
The IPO has also drawn attention to SpaceX's governance structure, with Musk controlling over 82% of voting power through 10-vote Class B shares. This dual-class share arrangement gives Class B shareholders more voting rights than ordinary shareholders. Despite these concerns, SpaceX's public-market debut comes after years of building its business around reusable rockets, commercial satellite launches, and Starlink—its satellite broadband network.