SpaceX live updates: IPO filing sets stage for record offering

SpaceX revenue jumped 15% to $4.69 billion in first quarter SpaceX said revenue increased 15% to $4.69 billion in the first quarter from $4.07 billion a year earlier. Revenue for all of last year jumped 33% to $18.67 billion. The company recorded a net loss in the latest quarter of $4.28 billion after losing $4.94 billion in 2025. —Lora Kolodny Musk controls 85% of SpaceX voting power Tesla and SpaceX CEO Elon Musk attends a state banquet for President Donald Trump and China's President Xi Jinping at the Great Hall of the People in Beijing on May 14, 2026. Brendan Smialowski | Afp | Musk controls 85% of SpaceX voting power, with 849.5 million Class A shares and 5.57 billion Class B shares, according to Wednesday's prospectus. Other than Musk, no person or entity has a stake larger than 5%. — Jordan Novet SpaceX merger with xAI created a trillion-dollar plus company Musk merged SpaceX with xAI in February, creating a combined entity that he valued at the time at $1.25 trillion. Tesla , Musk's electric vehicle company, has a market cap of about $1.6 trillion, and was previously the main source of his liquid wealth. …