SpaceX's public S-1 filing, following a confidential SEC submission on April 1, confirms the company is targeting a June Nasdaq listing to raise up to $75 billion at a $1.75 trillion valuation — more than 2.5 times Saudi Aramco's $29.4 billion 2019 record. Musk holds roughly 42% of equity but controls approximately 79% of votes through Class B super-voting shares; public investors receive standard one-vote-per-share Class A stock with, per the filing, no meaningful ability to influence the company's direction. SpaceX reported $15–16B in 2025 revenue with ~$8B in profits, with Starlink alone generating over $10B at 9.2 million subscribers; notably, up to 30% of shares are allocated to retail investors — roughly three times the typical norm for large IPOs.