Overview
- SpaceX completed its Nasdaq listing on Friday, June 12, 2026, selling about 555 million shares at $135 apiece and opening sharply higher with intraday trades near $165 that pushed the company’s market capitalization above $2 trillion.
- Elon Musk kept concentrated control through a dual-class voting structure that leaves him with more than 80% of votes while his equity stake and the stock’s opening surge lifted his reported net worth past $1 trillion.
- Company executives told investors the $75 billion target will fund long‑horizon projects such as human missions to the Moon and Mars and orbital datacenters for AI, while a significant portion of new shares was reserved for retail investors.
- Major banks led the deal, with Goldman Sachs and Morgan Stanley among underwriters, and the scale of orders put pressure on trading infrastructure while regulators and some lawmakers called for close review of disclosures and investor protections.
- Analysts warned that the offering raises questions about how much capital U.S. markets can absorb given pending mega‑IPOs from Anthropic and OpenAI and noted widespread expert skepticism about the technical timelines and economics of SpaceX’s most ambitious projects.