SpaceX Offers Musk 1 Billion Shares for 1 Million-Person Mars Colony

3 articles · Updated · Fortune · Jun 22

1 billion restricted Class B shares would go to Elon Musk only if SpaceX hits 15 valuation targets up to $7.5 trillion and establishes a permanent Mars colony with at least 1 million inhabitants.
At Monday's price, the award is worth about $165 billion on top of Musk's existing roughly 5 billion-share stake, and each tranche also requires him to remain CEO until the board certifies the milestones.
The May 20 S-1 frames Mars colonization as SpaceX's core mission rather than a side project, mentioning Mars 63 times and tying robots, AI and Starlink-scale connectivity to building a self-sustaining settlement.
That goal remains distant: Kalshi traders put the odds of humans reaching Mars by 2030 below 20%, while Starship is still in test flights and SpaceX only targets uncrewed cargo missions as early as 2028.
The unusual package also gives Musk more super-voting stock and adds a promotional edge to what is billed as the largest IPO in history.

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SpaceX’s Record $1.77 Trillion IPO: Governance, Compensation, and the Race to a Million-Person Mars Colony

Overview

SpaceX is making history with its upcoming IPO, setting the share price at $135 and planning to sell 555.6 million shares to raise $75 billion. This move is expected to make it the largest IPO ever, giving SpaceX a projected valuation of $1.77 trillion and ranking it as the seventh-biggest company in the U.S. by market capitalization. Underwriters can buy even more shares, potentially adding $11.2 billion. The company will debut on the Nasdaq under the ticker SPCX, marking a major milestone as SpaceX opens its doors to public investors and sets the stage for its ambitious future.

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