SpaceX · Elon Musk · xAI · Fortune Technology
Elon Musk will get a billion shares of SpaceX if he can settle a million humans on Mars
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When SpaceX published its S-1 on May 20, investors got what they expected: a landmark filing for a company planning the largest IPO in history.
Key facts
- Three months before filing, Musk merged his AI company, xAI, and his social media platform, X, into SpaceX, in a deal that valued the rocket company at $1 trillion and xAI at $250 billion — This is on top of his existing stake of roughly 5 billion shares, worth approximately $825 billion now
- When SpaceX published its S-1 on May 20, investors got what they expected: a landmark filing for a company planning the largest IPO in history
- Traders on the prediction market Kalshi give SpaceX less than a 20% chance of sending humans to Mars by 2030
Summary
The SpaceX board will grant CEO and founder Elon Musk 1 billion restricted shares of Class B common stock on one condition: He has to hit 15 market capitalization milestones up to $7.5 trillion and establish a “permanent human colony on Mars with at least 1 million inhabitants.” This is on top of his existing stake of roughly 5 billion shares, worth approximately $825 billion now. The prospectus is structured, in part, around the argument that getting to Mars isn’t a vanity project but the company’s reason for being. “We do not want humans to have the same fate as dinosaurs,” the filing added.