Elon Musk bought $1.4 billion worth of SpaceX stock ahead of the company's IPO - The Information

Billionaire Elon Musk spent $1.4 billion last year to build up a stake in his aerospace company SpaceX by buying shares from current and former employees, Reuters reported, citing The Information. The deals were done through Musk's trust fund, the article said.

Information about buying shares on the secondary market was disclosed in the draft confidential SpaceX IPO prospectus, the agency points out. The expected Wall Street listing would value the company at about $1.75 trillion and raise up to $75 billion, potentially making the offering the largest in history, Reuters notes.

In addition, according to The Information, SpaceX has approved a compensation plan under which Musk will receive another 60 million shares if the company's market capitalization reaches $6.6 trillion and the project of orbital data centers for AI is implemented. The papers will accrue to the billionaire in stages - for every $500 billion increase in market value. Musk's salary at the company last year amounted to $54,080, Reuters writes.

The agency could not independently confirm The Information's information. SpaceX did not provide a prompt response to his request.

Reuters could not immediately confirm the figures provided by The Information's sources on the losses. SpaceX also did not respond to the agency's request for comment.

SpaceX is preparing an IPO structure that will cement Musk's control of the company. A two-class share structure will be used: Class B securities with 10 votes per unit will be concentrated with the owner of SpaceX and other insiders, while investors will receive Class A securities with one vote, according to the company's documents filed with the regulator, which were reviewed byReuters. They also include provisions that could limit shareholders' ability to influence board elections or file certain lawsuits, the agency wrote. Musk will remain CEO and CTO, and will head a nine-member board of directors.

The document also sheds light on the financial health of SpaceX, especially after the rocket business merged with Musk's social media and AI company, xAI. The combined entity ended 2025 with about $24.8 billion in cash, $92 billion in assets and $50.8 billion in liabilities, Reuters reports.SpaceX posted a $4.94 billion loss after a $791 million profit a year earlier - due to a nearly five-fold increase in capital expenditures over two years, more than half of which was on AI investments. Revenue rose to $18.67 billion from $14.02 billion, with much of the cost funded by Starlink's satellite business, the agency said. It brought in $4.42 billion in operating profit, but accounted for less than a quarter of total capex.

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