Elon Musk owns 48.4% of SpaceX, a stake valued at more than $900 billion, according to a regulatory filing.

The company, which spans rockets and artificial intelligence, went public on June 12 after a record-setting IPO that raised $85.7 billion — the largest flotation on record — and lifted its market capitalisation above $2 trillion, placing it among the world's most valuable listed companies. Its valuation has since retreated as investor enthusiasm faded.

Musk owns 6.42 billion shares and exercises sole voting and dispositive power over them, the filing showed. He has held more than 82% of SpaceX's voting power since the IPO, underscoring the extent of his influence over the company. The gap between his economic stake and his voting weight is made possible by the company's multi-class share structure, a setup used by listed technology groups such as Meta Platforms, Alphabet and Snap to preserve founder control after going public.

The stake comprises 849.5 million Class A shares held by trusts where Musk is a trustee, 3.92 billion Class B shares held by those trusts, 1.30 billion restricted Class B shares held by Musk, and 350 million Class B shares issuable upon the exercise of stock options.

After falling nearly 33% through the end of July, SpaceX shares have jumped 30% so far in August, following the company's quarterly results and the expiry of the first of several lock-up restrictions. Lock-up agreements typically bar insiders from selling for a set period after a listing, and staggering them across multiple dates releases founder and early-investor shares into the market gradually; further expirations are still scheduled for SpaceX.

Earlier this month, SpaceX posted its first quarterly earnings since its market debut, reporting a more than 90% jump in revenue and a sharp increase in capital spending. As a newly listed company, it now reports results on a regular quarterly cadence, with the remaining lock-up expirations among its next scheduled events.