Just two days after becoming the world’s first trillionaire, Elon Musk is setting an even bigger target for SpaceX.
On Sunday, Musk said he expects the rocket company could generate more than $1 trillion in annual revenue by 2031, a figure that would place SpaceX among the largest businesses in history.
“And I would be surprised if revenue is not greater than $1T in 2031,” Musk wrote on X in response to a post from journalist and financial commentator Jon Erlichman.
And I would be surprised if revenue is not greater than $1T in 2031
— Elon Musk (@elonmusk) June 14, 2026
The comment came two days after SpaceX made its public market debut, reaching a valuation of more than $2 trillion and becoming the sixth-largest publicly traded company in the United States. The milestone pushed Musk’s net worth past the trillion-dollar mark, a first for any individual.
Musk’s revenue forecast paints a picture of growth far beyond what most Wall Street analysts currently expect.
SpaceX generated $18.67 billion in revenue in 2025, up from $14.02 billion the year before. Yet the company reported a net loss of $4.94 billion, reversing a profit of $791 million recorded in the previous year. The figures highlight a company still spending heavily to build out its long-term ambitions, including Starlink, Starship, satellite infrastructure, and future deep-space programs.
The path from nearly $19 billion in annual revenue to more than $1 trillion within six years would require one of the most dramatic business expansions ever seen. Musk did not provide details on how SpaceX would reach that level, though investors have long pointed to Starlink’s global broadband network, commercial launch services, government contracts, and future space-based businesses as potential growth drivers.
Wall Street’s projections remain far below Musk’s forecast.
Goldman Sachs estimates SpaceX could generate more than $470 billion in revenue by 2030. Morgan Stanley projects revenue closer to $330 billion by the end of the decade, Reuters reported, citing a Wall Street Journal report published earlier this month.
Even those forecasts would represent extraordinary growth and would place SpaceX among the most significant companies in the global economy. Musk’s latest prediction pushes the ceiling much higher.
The gap between analyst estimates and Musk’s own expectations reflects a question investors have debated for years: Is SpaceX simply a launch and satellite company, or is it laying the foundation for entirely new industries that do not yet exist?
For now, the market appears willing to give Musk the benefit of the doubt. SpaceX has already achieved something few thought possible, turning a private rocket company into one of the most valuable businesses on Earth. Whether it can become the first company to generate more than $1 trillion in annual revenue is a much bigger bet.
