Musk Fires Back at Bloomberg — But the Bigger Fire Is Already Burning

On May 29, 2026, Elon Musk posted a single word on X in response to a Bloomberg report: "False."

Bloomberg, citing unnamed sources, reported that SpaceX had lowered its IPO valuation target from over $2 trillion to at least $1.8 trillion. Musk says that didn't happen.

But Musk's own X post from days earlier introduced a contradiction that securities lawyers are examining closely.

The Anthropic Contract Discrepancy

When SpaceX filed its S-1 prospectus on May 21, the filing described a deal with Anthropic to lease compute capacity at the Colossus 1 data center in Memphis, Tennessee. The terms, as written: Anthropic pays SpaceX $1.25 billion per month through May 2029. That's roughly $15 billion per year — a transformational revenue stream for a company that posted total 2025 revenue of $18.7 billion, according to CNBC.

The filing also noted the agreement could be terminated by either party with 90 days' notice.

Then Musk posted on X that SpaceX "has not committed to leasing Colossus for years" and described it as a "180 day lease with 90 day notice mutual cancellation thereafter."

Investors reading the S-1 would reasonably assume a multi-year contract worth tens of billions. If Musk is correct, what they'd actually be getting is a six-month deal that could evaporate with a 90-day call.

What Legal Experts Are Saying

Eric Talley, a securities law professor at Columbia Law School, told CNBC: "It's confusing to investors who are trying (best they can) to put a valuation on SpaceX."

According to CNBC's reporting, Talley noted that either Musk is correct and the S-1 is materially misleading, or the S-1 is correct and Musk is publicly contradicting a legal document. Neither scenario is favorable.

IPO prospectuses are legal documents. Material omissions or misstatements expose companies — and their officers — to securities liability. Musk is both the effective controller of SpaceX and the person posting deal terms on a social network he owns.

The Bloomberg Valuation Story

ZeroHedge noted that valuation ranges in pre-IPO marketing are routinely adjusted. Bankers consult with investors, calibrate the range, and price accordingly. A shift from "over $2T" to "at least $1.8T" is standard deal mechanics.

Polymarket traders are pricing a 90% chance SpaceX's market cap clears $1.8 trillion on IPO day, according to ZeroHedge.

Musk's "False" response to Bloomberg may be technically defensible. IPO valuation ranges are marketing, not contracts. But it arrives while the Anthropic contract discrepancy remains unresolved.

Trillionaire Odds Are Climbing Anyway

Kalshi prediction markets now show a 93% chance Musk becomes the world's first trillionaire before 2028, and over 90% before 2027, according to CNBC. That assumes SpaceX goes public at or near its targeted valuation and the stock holds.

For context, Musk crossed $500 billion in net worth last October and hit $700 billion in December 2025 after the Delaware Supreme Court reinstated his Tesla stock options.

Wedbush analyst Dan Ives is now publicly modeling a SpaceX-Tesla merger by next year, telling CNBC that Musk "wants to own and control more of the AI ecosystem." A combined entity would represent a significant shift in scale.

The Central Problem

Left-leaning outlets are focusing on the disclosure gap as reason to be skeptical of the IPO. Right-leaning outlets are treating the Bloomberg valuation story as media bias. Both are missing the core issue: a CEO contradicting his own IPO filing in a public social media post is a documented problem — not a narrative dispute.

If you're thinking about buying SpaceX on IPO day, you have a legitimate question that remains unanswered: Is the Anthropic deal worth up to $45 billion over three years, or is it a six-month pilot that either side can walk away from?

That question needs an answer in writing — in a prospectus amendment, not an X post — before the June 12 debut.

The IPO is still happening. The valuation is still massive. But right now, the company's own CEO is a significant source of uncertainty in the deal for a company trying to execute the largest IPO in history.