Elon Musk projects SpaceX revenue could hit $1 trillion by 2030, a claim made after the company’s stellar IPO. The listing made Musk the world’s first trillionaire and pegged SpaceX’s valuation at over $2 trillion.
Elon Musk projects SpaceX revenue to top USD1 trillion by 2030. The Tesla and SpaceX owner made the claim on his X handle, a social media platform that he owns and is part of SpaceX.
“I would be surprised if revenue is not greater than $1 trillion in 2031,” Musk said in his post on Monday. A few minutes earlier he had posted, “I think SpaceX might be able to reach approximately $1 trillion in revenue by 2030.”
A Historic IPO
Musk made the claim of topping USD1 trillion revenue in next five years after SpaceX had a stellar listing on Friday ending the debut trading session at USD161 against the issue price of USD135. The rocket, internet and AI company raised USD75 billion from both retail and institutional investors in a historic IPO selling around 556 million shares of the company at a valuation of USD1.77 trillion. The company ended the trading session on Friday at more than USD2 trillion pegging it at sixth position among the most valuable firms in US. The blockbuster IPO also made Elon Musk world’s first trillionaire.
Ambitious Future and Investor Sentiment
Musk who has stratospheric plans for his company wants to create a multiplanetary civilisation and build data centre infrastructure in space. At the opening bell ceremony, Musk said that SpaceX wants to take fiction out of science fiction. While Musk’s plans for SpaceX have drawn close scrutiny from investors, a legion of retail investors forming his fanbase has strongly supported him.
SpaceX President Gwynne Shotwell, who was at Nasdaq with the company’s CFO Bret Johnsen and other employees on Friday, rang the opening bell and was joined by Elon Musk who was witnessing the historic moment from Texas.
Conflicting Revenue Forecasts
Musk’s forecast for a trillion-dollar revenue for SpaceX by 2031 is contrary to what the two underwriters had earlier shared with investors and reported by Wall Street Journal. While Goldman Sachs has forecast a revenue of USD474 billion in 2030, Morgan Stanley projects SpaceX to generate a revenue of USD330 billion, according to the WSJ report. (ANI)
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