Uday Kotak Calls SpaceX IPO a ‘True Test for Capitalism’; Elon Musk Targets $1 Trillion Revenue by 2030

Uday Kotak has described the blockbuster stock market debut of SpaceX as a "true test for capitalism", saying the company's valuation challenges conventional financial benchmarks and reflects a significant bet on the future. 

Kotak shared his views in a post on X following the company's public listing, which has generated widespread interest across global financial markets. 

Why Uday Kotak Called It a Test for Capitalism 

According to Kotak, the valuation assigned to SpaceX does not align with traditional valuation metrics and instead reflects investor expectations about the company's long-term technological and commercial potential. 

He said the listing represents a significant wager on the future course of innovation and humanity's progress. 

Uday Kotak's Statement on SpaceX IPO Listing 

In his post on X, Kotak said: 

"SpaceX IPO, listing, and beyond, is a true test for capitalism. The valuation does not fit any traditional matrix and is a huge bet on the future course of planet earth. Only time will tell whether we, the human race, have arrived into the fairy tale world we grew up in as children, or are in a mega bubble." 

Read More: IPO Activity Likely to Pick Up in H2 2026; Companies Eye ₹60,000 Crore Fundraising 

Elon Musk Says SpaceX Could Generate $1 Trillion in Revenue by 2030 

Separately, SpaceX CEO Elon Musk has said the company could generate approximately $1 trillion in annual revenue by 2030.  

Responding to a revenue forecast by Morgan Stanley on X, Musk said SpaceX "might be able to reach approximately $1 trillion revenue in 2030" and added that he would be surprised if the company's revenue did not exceed that level by 2031. 

Morgan Stanley has projected SpaceX revenue at $160 billion by 2028 and $330 billion by 2030, while estimating that revenue could rise to $3.4 trillion by 2040. According to the company's offer document, SpaceX generated $18.7 billion in revenue in 2025. 

Conclusion 

Uday Kotak's remarks on the SpaceX IPO highlight the ongoing debate around the valuation of high-growth technology companies. Meanwhile, Elon Musk's ambitious revenue target of $1 trillion by 2030 underscores the scale of the company's long-term growth aspirations, adding another dimension to discussions around its valuation and future potential. 

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