Key facts
- SpaceX's IPO was valued at $75 billion.
- Shares surged 30% on the first day of trading.
- The company's market value surpassed $2 trillion.
- Elon Musk became the world's first trillionaire.
- Banks like Goldman Sachs and JPMorgan held themed celebrations.
- Protesters demonstrated against billionaire wealth outside financial institutions.
SpaceX's initial public offering has been described as a spectacle, with its $75 billion valuation and a 30% surge in share price on its debut, propelling its market value above $2 trillion. This event instantly positioned SpaceX among the world's top 10 most valuable companies and made Elon Musk the planet's first trillionaire. The IPO's success was marked by widespread celebrations among financial institutions involved, including Goldman Sachs and JPMorgan, which hosted themed events. Goldman Sachs transformed its lobby with space-themed decor, while JPMorgan's CEO Jamie Dimon hosted approximately 250 SpaceX employees. The stock began trading on the Nasdaq in Times Square, which saw crowds of onlookers, some in astronaut costumes. However, the event also drew protests. Outside Morgan Stanley's offices, a large inflatable effigy of Elon Musk, bearing allegations against SpaceX, was displayed. Protesters from Stop Funding Billionaires gathered outside JPMorgan, chanting against the accumulation of billionaire wealth and criticizing the bank's involvement in the IPO celebration. The unusually large allocation of shares to retail investors also contributed to the public's engagement with the IPO.