Elon Musk has dismissed reports claiming SpaceX is raising funds at an US$800 billion valuation. Although the figure created widespread attention, Musk quickly clarified the situation. The reported valuation would have placed the company ahead of OpenAI, which reached US$500 billion in October. However, Musk stated on X.com: “There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.” He also noted that the company has operated with positive cash flow for many years. Additionally, he explained that it performs stock buybacks twice a year to offer liquidity to employees and investors.
Revenue Clarifications and Response to Subsidy Claims
Musk, whose wealth is nearing US$400 billion, addressed further assumptions regarding the company’s financial structure. He clarified that NASA is not its largest client, even though the partnership often draws public attention. “And one other thing that is arguably most significant by far,” Musk added. “While I have great fondness for @NASA, they will constitute less than 5% of our revenue next year.”
Furthermore, he emphasized the role of Starlink, since it contributes the most to the company’s revenue. He also rejected claims of government subsidies. “Some people have claimed that SpaceX gets ‘subsidised’ by NASA. This is absolutely false,” he wrote. Musk explained that the team won NASA contracts by offering the best product at the lowest price. He stressed: “BOTH best product AND lowest cost.” Moreover, he noted that SpaceX is currently the only astronaut transport option that meets NASA safety standards.
IPO Speculation and Future Possibilities
Reports have also indicated that the company informed investors of a plan to pursue an initial public offering in the second half of 2026. Although this created strong market interest, Musk has not confirmed the timeline publicly. The plan would include Starlink, which provides global satellite internet service. Meanwhile, the IPO discussion followed news of a secondary share sale that implied an US$800 billion valuation. These reports emerged after interviews with individuals familiar with the matter. Musk previously mentioned in 2020 that Starlink could be listed once its revenue became smooth and predictable. As speculation continues, investors remain watchful, yet Musk has maintained a careful silence on any final decision.
