Elon Musk bought $1.4bn in SpaceX shares last year: Report

Elon Musk increased his ownership in SpaceX last year by purchasing approximately $1.4 billion worth of shares from current and former employees, according to a report by The Information.

The secondary share purchase was reportedly made through Musk’s trust and disclosed in a draft version of SpaceX’s confidential initial public offering (IPO) prospectus.

The move comes as SpaceX prepares for a potential US listing, having filed confidentially earlier this year.

The company is also said to be considering a compensation plan that would grant Musk an additional 60 million shares if ambitious performance targets are met.

Under the proposed plan, the shares would vest as SpaceX’s market valuation rises from about $1.1 trillion to as high as $6.6 trillion, increasing in $500 billion increments.

The targets are tied in part to a long-term strategy to develop space-based data centers aimed at supporting artificial intelligence computing.

Financially, SpaceX has shown strong growth, generating roughly $8 billion in profit on revenue estimated between $15 billion and $16 billion last year, according to earlier reports.

The company is also expected to adopt a dual-class share structure for its IPO, granting Class B shareholders — including Musk and key insiders — greater voting power compared to public investors holding Class A shares.

The latest developments highlight Musk’s continued confidence in SpaceX’s long-term strategy as the company expands its ambitions beyond launch services into emerging areas such as space-based infrastructure and AI support.