SpaceX made its highly-anticipated debut on US stock markets on Friday, becoming one of the world’s most valuable companies and helping CEO Elon Musk achieve a historic milestone by becoming world’s first billionaire.
Elon Musk’s owned company opened trading at $150 per share, 11% above its IPO price of $135, putting its valuation of nearly $2 trillion.
SpaceX’s shares later climbed to $164.99 during early trading under the ticker symbol SPCX.
The company raised $75 billion via its initial public offering that was reportedly oversubscribed four times over expected.
It comes after strong demand from institutional investors, including sovereign wealth funds from Saudi Arabia and Kuwait.
SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the opening bell at Nasdaq in New York to mark the company’s public debut.
Several credible analysts predicted a strong first-day performance, viewing the listing as a primary test for future mega-IPOs from the leading industry players like OpenAI and Anthropic.
The successful launch cemented Musk’s position as the world’s richest person and pushed SpaceX into the ranks of America’s largest companies by market value.
Elon Musk net worth
Elon Musk's net worth is approximately $1.1 trillion (or roughly $971 billion, primarily driven by major platforms such as SpaceX, X (formerly Twitter), and more.
The company’s growth has been primarily driven by Starlink satellite internet business that generates most of its revenue.
Separately, SpaceX launched a Falcon 9 rocket carrying 29 satellites from Cape Canaveral, Florida.
