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SpaceX IPO, Musk trillionaire
SpaceX debuted on US markets with a valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire after shares opened on Friday at $150 per share, up from the $135 IPO price.
“SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire”
The IPO priced at $135 a share and raised $75 billion, valuing the company at $1.96 trillion, while trading surged to $159 per share by the close and put SpaceX on track to become the sixth-largest company in the United States.
AP reported that shares jumped more than 19% after opening for trading Friday, with SpaceX opening around midday at $150 a share and rising to around $168 before finishing the day just below $161.
AP also said Musk marked the opening of trading on Nasdaq by joining a ceremonial bell ringing from Starbase, the South Texas home of SpaceX, and reiterated SpaceX’s goal “to make life multiplanetary.”
Debate, control, and skepticism
The milestone immediately sparked debate about wealth inequality, with BBC reporting that Democratic US senators Bernie Sanders and Elizabeth Warren condemned the trillionaire status and Warren said it should be a "wake up call".
BBC also reported that Musk’s 42% ownership stake in SpaceX gives him essentially unilateral control over everything it does, and that he is unable to sell any of his SpaceX stock for at least a year.
For investors, AP described a split between enthusiasm and caution, quoting Morningstar analysts who wrote that the IPO is “significantly overvalued” and estimated SpaceX is only worth $780 billion.
AP added that SpaceX conceded in regulatory documents that some business plans rest on “unproven technologies,” while CNBC later quoted Gwynne Shotwell dismissing skeptics by saying, “Look at our track record, look at our history.”
What comes next for SpaceX
SpaceX’s listing is being framed as a bet on future technology, with Al Jazeera noting that market participants would watch signals on investor appetite for forthcoming IPOs for AI heavyweights Anthropic and OpenAI.
“Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut Elon Musk on Friday became the world's first trillionaire after shares in his SpaceX rocket company soared during the biggest-ever stock market debut”
AP said SpaceX went public now because it needs money to fund ambitions of putting satellites and data centers in space and eventually establishing a colony of people on Mars, while also describing the company’s losses of $8.7 billion between the start of 2025 and March 31, 2026.
In the AI race, BBC reported that Nancy Tengler called SpaceX’s AI business a "cash incinerator" and said she was buying for long-term potential with an investment horizon of three, five, and even ten years.
And beyond the IPO day, Fortune reported Gwynne Shotwell hinting at a Tesla merger by telling CNBC that a megamerger “might make Elon’s life a little easier, actually,” while also saying “Right now I’m focused on keeping the lights on here.”
