Overview
- SpaceX sold 555.6 million shares at $135 to raise $75 billion and its stock closed the first trading day near $160.95, producing a day‑one market value of roughly $2.1 trillion.
- The listing pushed Elon Musk’s paper net worth past $1 trillion and left him with roughly 84–85% of SpaceX’s voting power, preserving control over strategic decisions.
- Starlink is presented in filings as the company’s main cash generator while xAI and other AI infrastructure plans drove heavy capex and operating losses recorded before the IPO.
- Retail investors received an unusually large allocation of about 20% of the deal and the stock’s tiny public float plus faster index‑entry rules creates the potential for amplified volatility and forced passive buying.
- The IPO produced wide employee and early‑investor windfalls—more than 4,400 employees became millionaires on paper—and leaves markets watching quarterly results, xAI cash burn and near‑term trading swings for validation of the valuation.