Musk was awarded 1 billion performance-based shares earlier this year, Bloomberg reported, citing a US Securities and Exchange Commission filing.
The shares are split into 15 stages and can only fully vest if SpaceX hits major targets, including reaching a $7.5 trillion market valuation and creating a permanent Mars settlement with at least 1 million people.
Also Read: SpaceX IPO Filing: Musk ownership, big losses and Starlink revenue among key takeaways
Before reaching Mars, the company is also aiming to develop computing and data-storage infrastructure in space, which SpaceX described as a potential multi-trillion-dollar market opportunity.
The filing came as SpaceX publicly unveiled plans for what could become the biggest IPO ever, with the company aiming to raise as much as $75 billion. According to Bloomberg, the IPO documents also revealed Musk’s tight grip over the company through a super-voting share structure that gives him overwhelming control over strategic decisions.
Despite investor excitement around its satellite, rocket, and AI businesses, the filing showed SpaceX remains deeply loss-making. The company posted a net loss of $4.28 billion on revenue of $4.69 billion in the first quarter, compared with a $528 million loss a year earlier.
First Published: May 21, 2026 7:15 AM IS
