SpaceX's $75B IPO Makes Musk a Trillionaire
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- SpaceX raised $75 billion in its IPO on Thursday, valuing the company at approximately $1.77 trillion and setting a record for the largest U.S. IPO ever.
- SpaceX sold 555.56 million shares at $135 each, with the offering reportedly very oversubscribed, including an unusually large allocation to retail investors.
- Elon Musk did not sell any shares in the offering; his stake is valued at over $866 billion, making him the world's first trillionaire on paper when his Tesla holdings are added.
- SpaceX is expected to begin trading on the Nasdaq on Friday under ticker symbol SPCX, likely several hours after market open.
- The source notes Anthropic and OpenAI are also planning IPOs later this year, framing SpaceX's record as potentially short-lived.
Why it matters: This cements Musk as the world's first paper trillionaire and makes SpaceX one of the most valuable companies on Earth, though the source flags the record as potentially transient — Anthropic and OpenAI have their own IPOs slated for later this year. The unusually large retail allocation in a mega-IPO is a notable break from the institutional-only norm, broadening who shares in the upside.
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