Elon Musk holds about 42% of SpaceX’s equity and 82.4% of its votes. That gap is the main finding in the company’s S-1 registration statement, filed with the SEC on May 20, 2026 and confirmed in an amended S-1/A filed June 3.
The votes come from two share classes. Class B shares carry 10 votes each, Class A shares carry one. Musk holds the supervoting stock, so buyers of the public shares, listed under the ticker SPCX, get a share of the economics and almost no say in how the company is run. The filing shows Musk’s equity falling to about 40.5% after the offering, which targeted a Nasdaq debut on June 12, 2026 at $135 a share and aimed to raise $75 billion.
Other shareholders together own more of SpaceX’s economic value than Musk does. Musk can still settle strategy, executive appointments and the question of whether to go public without them.
Alphabet and Fidelity
The biggest institutional holder is Alphabet, with an estimated 7% before the offering, or about 6.7% after 555.5 million new shares were issued. It got there through a joint $1 billion investment with Fidelity Investments in January 2015. Neither firm has sold out.
Fidelity kept buying in later rounds. Its Contrafund alone reportedly held about $2.7 billion of SpaceX shares as of early 2025.
Early backers and newer money
Peter Thiel’s Founders Fund wrote a Series C check of roughly $20 million in 2008, making it one of the longest-held positions on the cap table. Sequoia Capital came in during the 2021 Series J round. Baillie Gifford, Baron Capital Group and Ontario Teachers’ Pension Plan are also on the list, along with Saudi Arabia’s Public Investment Fund and the Abu Dhabi Investment Authority, which joined 2023 financing rounds.
EchoStar became a shareholder when it took up to $8.5 billion of SpaceX Class A stock as part payment in a $17 billion spectrum purchase. It set up a new division, EchoStar Capital, just to manage the stake. The February 2, 2026 all-stock merger with xAI valued the combined company at about $1.25 trillion and brought in Nvidia, Cisco Investments, the Qatar Investment Authority and Abu Dhabi’s MGX.
Employees hold equity too, through restricted stock units and options. SpaceX has run tender offers that let current and former staff cash out part of their vested shares. The size of that block has not been made public.
From $100 million to 30-plus rounds
Musk started SpaceX in 2002 with about $100 million from his PayPal exit and owned essentially all of it. More than 30 financing rounds followed, each one diluting him.
The company nearly ran out of money in 2008. Three straight Falcon 1 failures used up most of its cash, and Musk later said he had enough left for one more attempt. The fourth launch worked. In December 2008 NASA awarded SpaceX a Commercial Resupply Services contract worth about $1.6 billion for 12 cargo missions to the International Space Station.
