Kathmandu. Elon Musk’s space company SpaceX is preparing to launch the largest initial public offering (IPO) in history. According to a prospectus released on Wednesday, the company has sparked a lot of interest and debate in global financial markets after the company announced plans to sell shares worth dozens of billions of dollars.

The filing shows that SpaceX earned $8.7 billion in revenue last year, but lost $5.6 billion in operations. The company said losses continued in the first months of this year.

While the company has not officially disclosed the amount it wants to raise, various international reports have suggested that the size of the offer could reach $75 billion or more. If that happens, the IPO will easily surpass that of Saudi Aramco, which raised a record $26 billion seven years ago.

SpaceX, formally known as Space Exploration Technology Corp., said the proceeds from the sale will be used to fund its ambitious plans to turn humans into a multiplanetary species. According to the company, this capital will be used to financially strengthen the project to establish human settlements on the Moon and Mars. “We don’t want the fate of the human race to be like that of a dinosaur,” the filing said, referring to the existential risk that could wipe out civilization.

Some parts of the prospectus look like science fiction. One section states that Musk will only receive special compensation “if he is able to establish a permanent human colony on Mars with a population of at least 1 million”.

The IPO also strengthens the chances of Musk becoming the first person in the world to have a net worth of more than $ 10 trillion. According to Forbes, Musk’s current net worth is $ 839 billion. He is a principal owner of SpaceX, which Musk founded in 2002.

In addition to the main business of putting astronauts into orbit on reusable rockets, SpaceX also has a variety of other businesses. Starlink is one of the most successful businesses.

According to the documents, Starlink had an operating income of $4.4 billion last year. The company is providing internet services to 10 million people in 150 countries and territories using more than 10,000 satellites in low Earth orbit.

But not all of the company’s projects have been successful. Recently, SpaceX acquired Musk’s social media platform X and artificial intelligence (AI) XAI. The buyout was criticised by some investors as a “bailout” because both companies were at huge losses. The AI business alone suffered an operating loss of $6.4 billion last year, according to the prospectus.

SpaceX’s main rocket and launch business relies heavily on U.S. government contracts. About a fifth of the company’s revenue last year came from the U.S. federal government, according to the documents. SpaceX has secured more than six billion dollars in contracts over the past five years from NASA, the U.S. Department of Defense and other government agencies, according to USASPENDING.gov.

This has once again raised questions about the relationship between Musk and US President Donald Trump. Musk was one of the biggest donors to Trump’s campaign and was also linked to Dodge, a government spending cut campaign.

Government ethics watchdog groups have questioned whether Musk had special privileges to get government contracts. There is also a debate about whether such gains will remain after the end of the Trump administration.

The prospectus also revealed Musk’s salary structure. In 2025, his base salary was $54,080. That hasn’t changed since 2019. But his main benefits are tied to stock grants. The company plans to offer 15 stock grant packages of about the same size. The company will hold 6.7 crore shares each. The shares will be transferred only after meeting the market price target set by the company.

To be eligible for Musk’s full stock award, SpaceX’s market value would have to reach $75 trillion. If the company succeeds in building a data center as big as a football field in space, it will receive additional stock prizes.

The company’s control structure has also caught the attention of investors. According to the filing, Musk and some major shareholders will get a special class of shares, which will give 10 voting rights for each share. Through this, they will have a decisive influence in the selection of the company’s board of directors.

SpaceX has warned potential investors that “this could limit or limit your influence in corporate affairs and management elections”.

The investor presentation program, known as the “roadshow” in Wall Street parlance, can begin 15 days after SpaceX releases the prospectus. According to the current timeline, that process is expected to begin on June 4.