SpaceX made its stock market debut on Friday following the largest initial public offering in history. The company's shares opened at $150, an 11 percent increase over the $135 IPO price, valuing the aerospace company at approximately $1.77 trillion.
The record-breaking offering has positioned Elon Musk to become the world's first trillionaire. Based on his ownership stake of roughly 38 percent in SpaceX plus his Tesla holdings, Musk's wealth now exceeds $1 trillion, marking a significant milestone in personal wealth accumulation.
SpaceX founder Elon Musk addressed the achievement at the company's headquarters, saying: "It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever." He emphasized SpaceX's dual missions to "make humanity multiplanetary" and "take the fiction out of science fiction."
On the day of its public market debut, SpaceX continued normal operations by launching a Falcon 9 rocket from Cape Canaveral Space Force Station in Florida. The mission delivered 29 Starlink satellites to low Earth orbit. Chief Operating Officer Gwynne Shotwell remarked on the unusual timing, asking: "What company would do such a thing on the day that they open in the public market? SpaceX would."
During the launch day, one of SpaceX's Falcon 9 boosters reached a significant milestone by completing five years of operational service, demonstrating the cost-effectiveness of the company's reusable rocket technology.
The IPO raised approximately $75 billion and grants SpaceX access to public capital markets for future growth and expansion. The company operates the largest satellite constellation in orbit through its Starlink network and maintains contracts with NASA for crew transport missions to the International Space Station.
Nasdaq officials expedited SpaceX's entry into the index through fast-track rules, which guarantees additional buying pressure from tracking funds and index-linked investors. Richard Hunter, head of markets at interactive investor, noted that the company's inclusion could have a significant weighting effect on the index.
The strong opening performance reflects investor confidence in SpaceX's business model and prospects in the commercial space sector. The public listing provides liquidity for early investors and employees while positioning the company for continued expansion in space technology and satellite services.
This historic debut comes after SpaceX spent nearly two and a half decades as a private company, during which it established itself as a leader in commercial spaceflight and satellite internet services.