SpaceX Surges 30% to $2.3T, Musk First Trillionaire
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- SpaceX began trading on the Nasdaq at $150/share after pricing at $135, climbing ~30% intraday to a ~$2.3T market cap — the largest IPO in history per multiple outlets including CNBC, Reuters, AP, and Forbes
- Elon Musk became the world's first trillionaire on paper as SpaceX's first-day valuation crossed $2 trillion, a milestone flagged by Bloomberg, Forbes, AP, Via Satellite, and others
- Demand far outstripped the float, with ~$175B in orders left looking for a home (per Tech Times) and BlackRock placing a $5B order against $250B in total demand (per The Next Web)
- Tesla shares fell 4% on the same day as SpaceX's record IPO, per Tech Times — a counterpoint to the Musk-empire celebration
- Paul Krugman published a Substack critique titled "Elon Musk, Human Ponzi Scheme" on IPO day, injecting skeptical commentary into an otherwise euphoric news cycle
- Coverage was near-universal across CNBC, Reuters, Bloomberg, WSJ, NYT, TechCrunch, Forbes, AP, Breitbart, and Gizmodo, with all outlets anchoring on the $150 open and trillionaire framing
Why it matters: SpaceX's ~$2.3T debut made Musk the first person worth a trillion dollars on paper, and the $175B in unfilled demand (per Tech Times) confirms institutional appetite blew past the $135 pricing — but Tesla's 4% drop the same day (per Tech Times) shows the market is not treating the two companies as interchangeable Musk proxies.
