Key facts
- SpaceX completed an IPO securing $75 billion.
- SpaceX's valuation exceeds $2 trillion.
- SpaceX shares surged significantly after its IPO.
- SpaceX's market capitalization surpasses Tesla's $1.52 trillion valuation.
- SpaceX is the sixth most valuable U.S.-listed company.
- Retail investors bought $118 million of SpaceX shares on the IPO debut.
- Options on SpaceX are set to begin trading as soon as Tuesday.
- The syndicate managing the transaction will earn $500 million in fees.
- Elon Musk is controlling the terms of SpaceX's IPO.
- The IPO event included celebrations and protests.
SpaceX has achieved a landmark initial public offering (IPO), securing $75 billion in a funding round that values the company at over $2 trillion. This valuation makes SpaceX the sixth most valuable U.S.-listed company, surpassing its sister company Tesla, which has a valuation of $1.52 trillion. Shares surged significantly following the debut, with one report indicating a 30% increase and another stating a 19% jump, pushing the company's market value past $2 trillion.
The IPO event was marked by lavish celebrations from banks and significant public interest, including protests against billionaire wealth. Retail investors, referred to as do-it-yourself traders, were notable participants, acquiring approximately $118 million worth of SpaceX shares on the first day of trading. Options on SpaceX are set to begin trading as soon as Tuesday, with heavy, volatile, and potentially expensive early activity anticipated.
Elon Musk is controlling the terms of SpaceX's IPO, dictating them to banks and investors. Despite potential risks such as weak governance and loss-making operations, early investors have seen substantial gains, fueling demand for the stock. The smooth trading debut, which processed millions of client orders, is seen as setting a new template for future mega IPOs, including those of OpenAI and Anthropic. The syndicate managing the transaction is set to earn $500 million in fees, the largest ever for a public offering.
Speculation about a potential merger between SpaceX and Tesla has intensified following this significant milestone. The event has been described as a spectacle, including celebrations and protests, and has led to Elon Musk becoming the world's first trillionaire.