Elon Musk Predicts $1 Trillion Revenue for SpaceX by 2030
Elon Musk projects SpaceX revenue to top $1 trillion by 2030. The Tesla and SpaceX owner made the claim on his X handle, a social media platform that he owns and is part of SpaceX.
"I would be surprised if revenue is not greater than $1 trillion in 2031," Musk said in his post on Monday. A few minutes earlier he had posted, "I think SpaceX might be able to reach approximately $1 trillion in revenue by 2030."
Musk made the claim of topping $1 trillion revenue in the next five years after SpaceX had a stellar listing on Friday ending the debut trading session at $161 against the issue price of $135.
The rocket, internet and AI company raised $75 billion from both retail and institutional investors in a historic IPO selling around 556 million shares of the company at a valuation of $1.77 trillion.
The company ended the trading session on Friday at more than $2 trillion, pegging it at sixth position among the most valuable firms in the US. The blockbuster IPO also made Elon Musk world's first trillionaire.
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Musk who has stratospheric plans for his company wants to create a multiplanetary civilisation and build data centre infrastructure in space.
At the opening bell ceremony, Musk said that SpaceX wants to take fiction out of science fiction.
While Musk's plans for SpaceX have drawn close scrutiny from investors, a legion of retail investors forming his fanbase has strongly supported him.
SpaceX President Gwynne Shotwell, who was at Nasdaq with the company's CFO Bret Johnsen and other employees on Friday, rang the opening bell and was joined by Elon Musk who was witnessing the historic moment from Texas.
Musk's forecast for a trillion-dollar revenue for SpaceX by 2031 is contrary to what the two underwriters had earlier shared with investors and reported by Wall Street Journal.
While Goldman Sachs has forecast a revenue of $474 billion in 2030, Morgan Stanley projects SpaceX to generate a revenue of $330 billion, according to the WSJ report.
(With inputs from ANI)