The Public Offering Is Being Described As The Largest Initial Public Offering In History
SpaceX made history Friday with a massive Wall Street debut that sent shares soaring and pushed founder Elon Musk’s estimated paper wealth above $1 trillion.
The rocket and satellite company began trading on the Nasdaq under the ticker symbol “SPCX,” marking a long-awaited public offering for one of the world’s most closely watched private companies. Shares opened at $150 and rose roughly 25% in early trading, giving SpaceX a market valuation of about $2.21 trillion.
The public offering is being described as the largest initial public offering in history. According to the Associated Press, SpaceX raised approximately $75 billion, surpassing the previous record set by Saudi Aramco in 2019.
The surge in SpaceX stock also pushed Musk into historic territory. Forbes estimated his net worth at approximately $1.1 trillion following the company’s rise, making him the first person to reach the trillion-dollar threshold based on paper wealth.
The milestone reflects the value of Musk’s holdings across SpaceX, Tesla and other ventures, though much of that wealth is tied to stock and company valuations rather than cash.
SpaceX marked the Wall Street debut with a ceremonial opening bell. President and Chief Operating Officer Gwynne Shotwell participated in celebrations in New York, while Musk joined remotely from Starbase, the company’s headquarters in South Texas.
SpaceX IPO Funds Big Plans, But Analysts Urge Caution
Musk used the moment to again emphasize SpaceX’s long-term mission of making humanity “multiplanetary.” He said funds raised through the IPO would help finance major projects, including expanding satellite infrastructure, developing space-based data centers and eventually building toward a human settlement on Mars.
Investor excitement has been high, with many betting that Musk can again reshape an industry, as he did with Tesla and earlier ventures. SpaceX’s debut is also expected to add momentum for other high-profile technology and artificial intelligence companies that may pursue public offerings.
Still, not everyone is convinced the valuation matches the company’s current financial picture. Morningstar analysts have warned that SpaceX’s valuation appears significantly higher than what its fundamentals support, estimating the company’s value closer to $780 billion.
The company has also reportedly posted significant losses while pursuing its long-term goals, including an $8.7 billion loss between the start of 2025 and March 31, 2026.
For now, Wall Street appears willing to bet big on SpaceX’s future. Whether that bet holds will depend on whether the company can turn its massive ambitions into lasting profits.
