Elon Musk says SpaceX hitting $1 trillion in revenue in 2028 is 'no longer impossible'

SpaceX and Tesla CEO Elon Musk.

JOEL SAGET/AFP via Getty Images Elon Musk says it's "no longer impossible" that SpaceX will generate $1 trillion of revenue in 2028.

The SpaceX CEO said in August that his company projected that much revenue for 2030.

SpaceX would have to grow its revenue 53-fold in three years to reach Musk's new figure.

Elon Musk always shoots for the moon , but he's aiming even higher with his latest suggestion.

"As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible," the Tesla and SpaceX CEO said in a Tuesday post on X.

As crazy as this sounds, $1T in SpaceX revenue in 2028 is no longer impossible https://t.co/jF3Wue95nL — Elon Musk (@elonmusk) October 20, 2026 That's an even more ambitious timeframe than Musk has previously given.

He said in August that SpaceX was internally projecting $1 trillion of revenue in 2030, and there was a "non-zero" chance it could reach that amount in 2029.

Musk made his latest pronouncement within hours of saying on SpaceX's third-quarter earnings webcast that annual recurring revenue could reach between $500 billion and $1 trillion by the end of 2027.

In a post-earnings note, JPMorgan forecast SpaceX would generate $254 billion of revenue in 2027.

If SpaceX were to generate $1 trillion in revenue in 2028, that would represent a 53-fold increase in three years.

It earned just under $19 billion in 2025.

It shared its historical financials prior to going public this summer.

After the bell on Tuesday, SpaceX — the company behind Falcon rockets, Starlink satellites, X, and AI chatbot Grok — posted close to $15 billion in revenue last quarter , up 161% from the same period of 2025.