SpaceX's recent S-1 filing reveals that its Starlink division generated $4.42 billion in operating revenue last year, marking a substantial increase from $2 billion in 2024 and $469 million in 2023. The filing also highlights that Elon Musk and a select group of insiders will retain voting control post-IPO through a dual-class share structure. The document further discloses that SpaceX's cash reserves have more than doubled, rising from $11.4 billion at the end of 2024 to over $22.8 billion. By the end of 2025, the company's total assets were approximately $92 billion, with liabilities of about $50.8 billion and $24.8 billion in cash and cash equivalents. Additionally, the xAI business reported an operating loss of $6.4 billion last year.