Musk says SpaceX could hit $1 trillion revenue by 2030

Just two days after SpaceX's historic Nasdaq debut, Elon Musk is already projecting the company could generate $1 trillion in annual revenue by 2030, a figure that would dwarf Wall Street's most optimistic forecasts.

Taking to X, Musk, replying to financial commentator Jon Erlichman, said, "I think SpaceX might be able to reach approximately $1T revenue in 2030."

Just before this statement, SpaceX's Friday Initial Public Offering (IPO) valued the company at more than $2 trillion, making it the sixth-largest US firm by market cap and cementing Musk's status as the world's first trillionaire.

According to The Wall Street Journal, in its estimate for 2030, Goldman Sachs estimated that the income of the company would surpass $470 billion, although Morgan Stanley placed the number at approximately $330 billion.

SpaceX went from earning $14.02 billion in 2024 to earning $18.67 billion in 2025 while going from a profit of $791 million the previous year to posting a net loss of $4.94 billion.

When comparing the company’s revenue with that of other tech giants such as Broadcom and Amazon, it lags far behind.

The SpaceX IPO is the game changer here; however, for Musk to get to the valuation figure of $2 trillion, there was a sequence of events. In 2022, Musk bought Twitter for $44 billion, renamed it X and then used it to train his AI called Grok.

He went ahead and introduced xAI, which later merged with X with an overall valuation of about $113 billion. Later, he made another move by merging with SpaceX, where the valuation rose to $250 billion, a total of $206 billion more than he paid for Twitter.