SpaceX is expected to go public this year with a valuation of around $1.75tn (£1.31tn).
The technology news outlet The Information reported that the firm could file for the initial public (IPO) within days.
The BBC has contacted SpaceX for comment.
SpaceX was founded in 2002 by Musk, the world's richest man who also runs several other companies including electric car giant Tesla, the social media platform X and brain implant firm Neuralink.
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SpaceX has in recent years become an aerospace powerhouse, securing billions of dollars in US government contracts and space projects.
The firm has other companies in its stable like xAI, which owns social media platform X and artificial intelligence (AI) firm Grok.
SpaceX also owns satellite firm Starlink, which provides internet services around the world.
He currently has a fortune of more than $820bn, according to Forbes, which tracks the wealth of the world's richest people.
In 2025, Musk became the first person ever to achieve a net worth of more than $500bn.
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