SpaceX goes public in record IPO, making Musk the first trillionaire
SpaceX began trading on the Nasdaq on Friday, opening at $150 a share — above its $135 IPO price — and closing around $159, up roughly 18% on the day. That valued the rocket and satellite company near $1.9 trillion, the biggest IPO on record ; the offering raised about $75 billion.
The listing pushed Elon Musk’s stake in SpaceX past $760 billion. Combined with his Tesla holdings, his net worth crossed $1 trillion — making him the first person to reach that mark.
Much of SpaceX’s value now rests on Starlink, the satellite-internet unit that accounts for as much as 80% of revenue. Going public gives early employees and investors a way to cash out and hands SpaceX a public currency for future fundraising, but it also subjects a company long run on Musk’s terms to quarterly scrutiny and the disclosure demands of public markets.