Elon Musk Projects SpaceX Revenue Will Hit $1 Trillion by 2031

Elon Musk projected that Space Exploration Technologies Corp. (SpaceX) will generate approximately $1 trillion in annual revenue by 2030 or 2031. Announcing the forecast via the social media platform X, Musk stated he would be surprised if revenue did not exceed that mark by 2031.

The prediction follows a mid-June 2026 initial public offering that raised between $75 billion and $86 billion. The IPO pushed SpaceX's market capitalization above $2 trillion, with some estimates reaching $2.8 trillion, making Musk the world's first trillionaire. By its second trading day, SpaceX became the world's sixth most valuable company, surpassing Taiwan Semiconductor Manufacturing Company and trailing only Nvidia, Alphabet, Apple, Microsoft, and Amazon.

SpaceX's growth strategy integrates rocket launches, Starlink connectivity, and artificial intelligence, including a merger with xAI and the planned deployment of orbital AI compute satellites by 2028. The company recently secured $26 billion in annual data center lease contracts with Google and Anthropic. Despite these ambitions, SpaceX reported a net loss of $4.94 billion on $18.67 billion in revenue for 2025.

Wall Street analysts dispute Musk's projections. Goldman Sachs forecasts 2030 revenue between $470 billion and $474 billion, while Morgan Stanley projects $330 billion. Other firms, including ARK Invest and New Street Research, provide more conservative 2030 estimates ranging from $195 billion to $400 billion.