SpaceX's historic $85.7B IPO makes Musk first trillionaire
Shares surged 19% on debut, valuation hits $2.7T, and 4,400 employees become millionaires.
Deep Dive
SpaceX went public in the largest IPO ever, initially raising $75B and later $85.7B. Shares opened at $150 on Nasdaq, closing at $160.95 (up 19%). The company's valuation ballooned to $2.7T, making Elon Musk the world's first trillionaire. According to the New York Times, the offering could make 4,400 employees millionaires. Banks earned $500M in fees, and COO Shotwell hinted that a merger with Tesla "might make Elon's life a little easier."
Key Points
- Largest IPO in history raised $85.7B; shares closed up 19% on debut.
- Valuation reached $2.7T, making Musk the first trillionaire and SpaceX the fifth most valuable company.
- 4,400 employees became millionaires; COO hinted at Tesla merger; $60B Cursor acquisition announced.
Why It Matters
SpaceX's IPO transforms the space economy, creating immense wealth and signaling a new era for public investment in aerospace.