SpaceX’s historic public debut has rewritten the record books, with shares closing well above their offering price on the first day of trading.
The company priced its IPO at $135 per share, raising $75 billion in what became the largest initial public offering of all time.
Shares closed at approximately $161, marking a nearly 20% gain from the IPO price and signaling overwhelming investor demand for the rocket and spacecraft company.
The closing price placed SpaceX’s total market capitalization above $2 trillion, ranking it among the world’s six largest companies by that measure.
The milestone also pushed founder and CEO Elon Musk across a threshold no individual has ever reached, making him the world’s first trillionaire.
Musk owns roughly four out of every 10 SpaceX shares following the offering, cementing his commanding position over the company he founded more than two decades ago.
Before trading began, Musk reflected publicly on the long and uncertain road that led to Friday’s milestone, acknowledging the company nearly did not survive its early years.
“I gave SpaceX a less than 10% chance of succeeding at all,” Musk said, adding that he once believed the company was headed toward failure.
Despite the celebratory atmosphere surrounding the listing, Musk faces restrictions on his newfound paper wealth, as he cannot sell any of his SpaceX shares until a full year after the IPO.
Even after that lockup period expires, any move to sell shares would gradually erode his ownership stake and potentially reduce his influence over key company decisions.
The offering drew comparisons to some of the most consequential corporate listings in Wall Street history, with analysts noting the scale of capital raised was unmatched by any previous IPO.
SpaceX’s entry into the public markets represents a defining moment for the commercial space industry, which has grown from a niche sector into one attracting trillions of dollars in investor capital.
