Musk Wins Massive SpaceX Stock Awards if $6.6 Trillion Hit
Elon Musk stands to gain a staggering package of SpaceX stock awards under an ambitious new incentive plan revealed in the company’s confidential IPO prospectus, reviewed and reported by The Information.
SpaceX’s board recently approved a plan that would grant Musk 60 million additional shares if the company’s market capitalization climbs from its current $1.1 trillion to as high as $6.6 trillion. The SpaceX stock awards would vest in tranches, unlocking in $500 billion increments as the company’s valuation grows but they come attached to a bold condition.
A Space Data Center Dream Tied to the Payout
To claim the full package, SpaceX must also execute a plan to build AI data centers in orbit, designed to supply computing power for AI developers at a scale of roughly 100 terawatts annually the orders of magnitude greater than peak U.S. electricity consumption. The filing itself cautioned that the initiative is in its “early stages” and faces “significant technical complexity,” according to Benzinga.
The plan echoes Musk’s high-stakes Tesla compensation deal, which once drew prolonged legal battles but ultimately made him one of the world’s wealthiest people.
Separately, the prospectus revealed that Musk purchased $1.4 billion in SpaceX stock from current and former employees last year through his trust, further tightening his already dominant grip on the company. SpaceX also plans a dual-class share structure granting Class B shareholders ten votes each, concentrating control firmly with Musk and a small group of insiders ahead of what could be the largest IPO in history, targeting a $1.75 trillion valuation and a $75 billion raise.
SpaceX reported $18.67 billion in revenue in 2025, though it posted a $4.94 billion net loss, largely tied to AI-related spending following its February merger with Musk’s xAI venture.
