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SpaceX Files for Record IPO as Musk Maintains Control

SpaceX has filed for what would become the largest initial public offering in market history, according to regulatory documents released May 20. The aerospace company disclosed a $4.28 billion cumulative loss while detailing a share structure that preserves Elon Musk's operational control through super-voting provisions. Musk has indicated urgency around completing the public offering, stating the company needs to move forward with the listing in the near term. The filing offers a rare glimpse into SpaceX's financial performance as a private enterprise. The company's path to profitability remains a key question for prospective investors evaluating the record-setting debut. Wall Street competitors are simultaneously advancing their own space-sector initiatives, intensifying competition for dominance in the emerging orbital economy.