Elon Musk said on social media that his rocket company, SpaceX, could produce $1 trillion in revenue by 2030, adding that he would be surprised if revenue were not above $1 trillion in 2031. The remark was posted two days after SpaceX completed a public listing that valued the company at more than $2 trillion.
The timing of the forecast follows a weekend of market attention to SpaceX’s new public status. SpaceX’s market capitalization pushed it into the ranks of the largest U.S. companies, with the firm described as the sixth-largest in the country after the listing. The milestone also coincided with a statement that cemented Elon Musk’s status as the world’s first trillionaire.
Despite the lofty valuation, SpaceX’s underlying revenue is substantially lower than some similarly valued technology companies. In 2025, SpaceX reported revenue of $18.67 billion, up from $14.02 billion the prior year. At the same time, the company swung to a net loss of $4.94 billion in 2025, compared with a net profit of $791 million a year earlier.
Not all market analysts share Musk’s long-term revenue confidence. The article notes that Goldman Sachs had modeled SpaceX revenue to exceed $470 billion in 2030, while Morgan Stanley’s projection put 2030 revenue at nearly $330 billion. Those estimates were cited from a Wall Street Journal report referenced earlier this month.
The contrast between the company’s current revenue base and the projections highlighted in the market commentary underscores the gap between valuation and near-term cash generation recorded in the recent financials. The public listing and the valuation milestone have amplified scrutiny of how, and how quickly, SpaceX might translate ambitions and market position into sustained, multi-hundred-billion-dollar revenue streams.
Summary: Elon Musk predicted that SpaceX could reach $1 trillion in revenue by 2030 and indicated he expects at least that level in 2031. The forecast came days after SpaceX listed publicly with a valuation above $2 trillion and firm placement among the largest U.S. companies. The company reported revenue rising to $18.67 billion in 2025 from $14.02 billion, but it also recorded a net loss of $4.94 billion in 2025 compared with a $791 million profit a year earlier. Some Wall Street firms have significantly lower 2030 revenue estimates, with Goldman at over $470 billion and Morgan Stanley near $330 billion, as cited from a Wall Street Journal report.
Key points:
- Elon Musk publicly projected SpaceX could achieve $1 trillion in revenue by 2030 and suggested 2031 may exceed that level.
- SpaceX’s public listing valued the company at more than $2 trillion and ranked it as the sixth-largest U.S. firm; the listing coincided with Musk’s designation as the world’s first trillionaire.
- In 2025 SpaceX reported revenue of $18.67 billion, up from $14.02 billion in 2024, but swung to a net loss of $4.94 billion from a $791 million profit a year earlier; major Wall Street forecasts for 2030 revenue are materially lower than Musk’s projection.
Risks and uncertainties:
- Valuation versus current revenue - SpaceX’s valuation exceeds that of many larger-earning tech peers while reported revenue remains far smaller, creating potential volatility for investors and market participants.
- Recent profitability swing - the shift to a $4.94 billion net loss in 2025 from a $791 million profit the prior year highlights earnings volatility that could affect investor confidence and capital allocation.
- Analyst divergence on long-term revenue - notable Wall Street firms offer much lower 2030 revenue estimates (Goldman > $470 billion; Morgan Stanley nearly $330 billion), indicating significant uncertainty about achievable growth paths and timelines.