SpaceX began trading on the Nasdaq on June 12, 2026 under the ticker symbol SPCX, marking the largest initial public offering in history at a $1.77 trillion valuation after pricing 555.6 million shares at $135 each and raising approximately $75 billion.
The company, controlled by Elon Musk, set its IPO price Thursday evening, June 11, with shares opening for trading Friday morning on the Nasdaq Global Select Market. The fixed price of $135 per share represented an unconventional approach that bypassed Wall Street’s traditional price-discovery process, according to Reuters reporting on the deal structure.
Demand for SpaceX shares vastly exceeded the available supply. The IPO was oversubscribed 3 to 4 times, with total investor demand reaching approximately $250 billion against the $75 billion offering size, according to Bloomberg and Barron’s. Retail investors alone placed more than $70 billion in orders, despite representing a smaller fraction of total demand.
SpaceX allocated 30% of IPO shares to retail investors—three times the industry standard—across brokerage platforms including Robinhood, SoFi, E*TRADE, Fidelity, and Charles Schwab, according to Bloomberg Law News and Yahoo Finance reporting. Even with this unusually large allocation, retail demand still far exceeded available shares.
The IPO surpassed the previous record set by Saudi Aramco in December 2019, which raised $29.4 billion at a $1.7 trillion valuation, according to Investing.com and South China Morning Post reporting. SpaceX’s $75 billion raise more than doubled Aramco’s record, which had held the title of largest IPO for nearly seven years.
At the IPO price, Elon Musk’s stake in SpaceX was valued at approximately $688 billion, bringing his estimated total net worth to around $971 billion, according to Business Insider’s analysis of Bloomberg data. The offering instantly placed SpaceX among the world’s most valuable companies, rivaling major technology and energy firms.
The massive oversubscription reflected broader investor appetite for exposure to SpaceX’s core business. Starlink, the company’s satellite internet subsidiary, generated $11.4 billion in revenue in 2025 with 10.3 million subscribers across 164 countries, according to The Motley Fool and company filings cited in IPO documentation.
Sources
- Reuters — SpaceX IPO pricing at $135, fixed price mechanism, oversubscription details
- Bloomberg — Investor demand reaching $250 billion, retail allocation details, Musk net worth estimate
- Barron’s — IPO oversubscription rate of 3-5 times, retail investor order volume
- Yahoo Finance — Retail investor demand exceeding $70 billion, June 12 trading start date
- Bloomberg Law News — Retail allocation of 30% of shares, platform details
- Business Insider — Musk’s SpaceX stake valued at $688 billion, total net worth estimate
- The Motley Fool — Starlink revenue of $11.4 billion in 2025, 10.3 million subscribers
- Investing.com — Saudi Aramco 2019 IPO comparison, previous record of $29.4 billion
- South China Morning Post — Saudi Aramco IPO comparison and historical context
