New York, June 12, 2026, 16:22 ET
- SpaceX shares closed around $161 after debuting at $150 on Nasdaq, up 19% on the first day.
- The company pulled in $75 billion from its IPO, making it the biggest ever and over twice the size of Saudi Aramco’s 2019 debut.
- Musk’s estimated paper fortune has hit $1.1 trillion, Forbes data cited by the Associated Press shows.
Elon Musk is now the world’s first trillionaire. SpaceX started trading on Friday and investors pushed the stock above a $2 trillion valuation. SpaceX, listed as SPCX, opened at $150 a share. It closed at about $161, 19% above its $135 IPO price. That puts SpaceX as the sixth-biggest U.S. company by market cap, according to Reuters.
SpaceX raised $75 billion in its IPO, beating Saudi Aramco’s record and making the company a major player on the public markets. CBS News said shares opened on Nasdaq at 11:46 a.m. ET, jumping to $176.52 at midday and then pulling back as the session went on.
Musk is worth more than $1 trillion, mainly from his stakes in SpaceX and Tesla, the Associated Press said, pointing to Forbes numbers that show his net worth at $1.1 trillion. CBS News, looking at the IPO filing, said Musk holds 4.8 billion SpaceX shares, or 42% of the company, plus 350 million stock options. He also keeps 82.4% of SpaceX’s voting power. AP News
SpaceX says public-market funding is needed for its push beyond rockets, listing satellites, orbital data centers, AI infrastructure and plans for off-world settlement. Musk watched the debut from Starbase in South Texas, again calling the company’s mission “to make life multiplanetary,” according to the Associated Press. AP News
Reuters said demand for the deal was wide, with retail buyers getting around 20% of the stock. Over 500 million shares traded Friday, about $80 billion in turnover. Dan Coatsworth at AJ Bell told Reuters SpaceX “left other big names for dust” in both the scale and pace of its launch. Reuters
Analysts are questioning the valuation. Reuters said SpaceX had $18.7 billion in revenue for 2025 with a loss close to $5 billion, putting its market cap at about 110 times revenue. Morningstar pegged fair value at $780 billion. CFRA started coverage with a sell rating, according to Reuters.
Millions of everyday investors could feel the impact of the public listing right away. Reuters said SpaceX is on track for fast-tracked Nasdaq 100 inclusion, likely within a month, after new rules. That would make it a top position for index-tracking passive funds and ETFs linked to the benchmark.
The milestone has added fuel to the debate around extreme wealth and tech power concentration. The Guardian said Democrats including Elizabeth Warren and Bernie Sanders slammed Musk’s new rank, renewing calls for wealth taxes. The Verge reported Musk’s paper wealth now about matches the total of the next four richest people Forbes tracks. The Guardian
