Elon Musk Eyes Trillionaire Milestone as SpaceX IPO Nears

That figure, combined with his broader portfolio, places the trillion-dollar milestone within reach. Coming after a Tesla compensation package tied to long-term growth targets, the listing highlights how his wealth continues to be shaped by high-risk, high-reward ventures across space and technology.

That financial leap is only part of the story, as the structure behind the IPO reveals how power will remain concentrated.

SpaceX IPO structure ensures Musk retains firm control

Elon Musk is not just increasing his wealth through the SpaceX IPO; he is also strengthening his authority over the company. After the listing, he is expected to remain CEO, chief engineer, and chairman, while holding more than half of the voting power. This structure gives him decisive influence over leadership and long-term direction.

SpaceX is implementing a dual-class share system to maintain that control. Public investors will receive standard shares with one vote each, while Musk holds super-voting shares that carry significantly more influence. Because he owns nearly all of these shares, he will retain the ability to approve or block major corporate decisions.

The company has also structured its legal framework to limit shareholder challenges. Incorporated in Texas, SpaceX operates under rules that make certain lawsuits more difficult for smaller investors to pursue. Combined with Musk’s ownership and voting power, this approach ensures he maintains near-total control even as the company opens its doors to public investment.