SpaceX IPO: Elon Musk’s compensation could rise if Mars colonies, space data centres become reality

Elon Musk has tied a massive chunk of his future compensation at SpaceX to some of the company’s most ambitious goals, including building human colonies on Mars and developing data centres in space.

Musk was awarded 1 billion performance-based shares earlier this year, Bloomberg reported, citing a US Securities and Exchange Commission filing.

The shares are split into 15 stages and can only fully vest if SpaceX hits major targets, including reaching a $7.5 trillion market valuation and creating a permanent Mars settlement with at least 1 million people.

Also Read: SpaceX IPO Filing: Musk ownership, big losses and Starlink revenue among key takeaways

Before reaching Mars, the company is also aiming to develop computing and data-storage infrastructure in space, which SpaceX described as a potential multi-trillion-dollar market opportunity.

The filing came as SpaceX publicly unveiled plans for what could become the biggest IPO ever, with the company aiming to raise as much as $75 billion. According to Bloomberg, the IPO documents also revealed Musk’s tight grip over the company through a super-voting share structure that gives him overwhelming control over strategic decisions.

Despite investor excitement around its satellite, rocket, and AI businesses, the filing showed SpaceX remains deeply loss-making. The company posted a net loss of $4.28 billion on revenue of $4.69 billion in the first quarter, compared with a $528 million loss a year earlier.