Space Exploration Technologies Corp. surged 19% on its first trading day, closing at $160.95 after raising a record $75 billion in the largest initial public offering in history.
SpaceX priced 555.6 million shares at $135 each on June 11, 2026, valuing the company at approximately $1.77 trillion, according to Reuters. The stock opened at $150 per share on the Nasdaq under the ticker SPCX on June 12, trading higher throughout the session and peaking at $176.52 before closing nearly 20 percentage points above its offer price.
The IPO shattered the previous record held by Saudi Aramco, which raised $29.4 billion in 2019. SpaceX’s $75 billion haul is roughly 2.5 times larger than Aramco’s offering, according to Hindustan Times and multiple financial outlets.
By the end of trading, SpaceX’s market capitalization surpassed $2 trillion, according to Al Jazeera. The company’s publicly traded status immediately made it one of the most valuable U.S. companies, rivaling household names like JPMorgan Chase and Microsoft.
The historic IPO catapulted CEO Elon Musk into unprecedented wealth territory. His net worth reached approximately $1.1 trillion, making him the world’s first trillionaire, according to Forbes and Reuters. Musk’s stake in SpaceX alone was valued at roughly $860 billion following the pricing, and his combined holdings across Tesla, xAI, X, Neuralink, and The Boring Company pushed his total net worth past the trillion-dollar threshold when trading commenced.
The offering also transformed thousands of SpaceX employees. The company gave equity to over 4,000 workers across all levels—from welders to cafeteria staff—turning many into millionaires overnight when shares began trading, according to social media reports citing the company’s employee equity program.
Demand for the IPO was overwhelming. Retail investors placed orders exceeding $100 billion, with the offering oversubscribed by approximately four times, according to Forbes and Fortrade. Retail investors received 30% of available shares, a significantly higher allocation than the typical 5-10% in most IPOs.
The IPO values SpaceX’s three core businesses: its Starlink satellite internet service, which generates $11.4 billion in annual revenue with $4.4 billion in operating income; its Falcon 9 rocket fleet; and its artificial intelligence initiatives. Starlink has become the most profitable division within the SpaceX empire, according to social media analysis and investor commentary.
SpaceX has remained private for 24 years since its founding. The company’s entry into public markets marks a watershed moment for the commercial space industry and reflects investor confidence in Musk’s vision for advancing space exploration and satellite technology on a global scale.
Sources
- Reuters — IPO pricing at $135 per share, $75 billion raised, $1.77 trillion valuation, and Musk’s net worth reaching $1.1 trillion
- CNBC — Stock closing at $161, 19% gain on first day of trading
- CNN — Stock settled at $160.95, up 19.22% from $135 offer price
- NBC News — Stock gains of 19% on first trading day
- Al Jazeera — Market valuation surpassing $2 trillion and Musk becoming world’s first trillionaire
- Hindustan Times — SpaceX’s $75 billion IPO being 2.5 times larger than Saudi Aramco’s $29.4 billion 2019 offering
- Forbes — Elon Musk declared world’s first trillionaire with net worth of $1.1 trillion
- Fox Business — Musk’s net worth reaching $1.1 trillion following SpaceX IPO
- Morningstar — Stock jumped 19.2% from IPO price, peaking at $176.52 intraday
- Investor’s Business Daily — Stock opening at $150, closing at $161.11
