SpaceX IPO Shatters Records, Lifts Elon Musk Past the $1 Trillion Mark

SpaceX, the space company founded by Elon Musk, completed the largest initial public offering in market history on Friday in a landmark Wall Street debut. The company raised $75 billion at $135 a share, implying a valuation of about $1.77 trillion, according to the offering documents and a Wall Street Journal report.

SpaceX sold roughly 555.6 million shares in the offering, far exceeding the previous record set in 2019 by Saudi oil giant Aramco, which raised about $25.6 billion. The frenzy did not stop there, as the stock jumped about 11% shortly after trading opened, pushing the company’s value above $1.9 trillion.

Based on calculations cited by financial media, that surge made Musk the first person in history whose net worth crossed $1 trillion. The IPO marks a major turning point not only for Musk but also for U.S. capital markets, after years in which he insisted SpaceX would not go public until it was mature enough technologically and commercially.

SpaceX now operates the Starlink satellite network, regularly launches Falcon rockets, and is viewed as the dominant player in commercial space. Demand for the shares reportedly far outstripped supply, with about 20% of the IPO allocated to private investors, an unusually high share for a major U.S. listing. Some analysts warned the valuation may be inflated, arguing it assumes aggressive growth not only in space but also in satellite internet and artificial intelligence. Even so, the company’s first trading day has already entered the record books.