SpaceX Completes Record $75 Billion IPO, Making Elon Musk World’s First Trillionaire SpaceX’s Wall Street debut has shattered records, turbocharged Elon Musk’s wealth past the $1 trillion mark, and ignited a fierce debate over whether public markets are buying the future of space—or a speculative AI dream.

On June 11, SpaceX confirmed it had priced 555.6 million shares at $135 each, raising $75 billion and instantly claiming the title of the “largest IPO in history,” with bankers saying the deal “looks set to make Musk the world’s first trillionaire.” The next morning, the stock listed on Nasdaq as SPCX and opened at $150, an 11% pop that valued the company above $2 trillion and put Musk over the trillionaire line as long as shares stayed above $138.

Trading was frenzied. Within the first hour, about 263 million shares changed hands, pushing SpaceX’s valuation past $2 trillion and triggering “record-breaking” traffic — and brief outages — at retail brokerage Robinhood. By the close, SPCX was up 19% at $160.95, a run-up that one outlet said “made CEO Elon Musk the world’s first trillionaire.” The Economist estimated the company at around $2.1 trillion after its first day.

Behind the scenes, Wall Street banks had spent months preparing investors for what one account called a “sci‑fi strategy,” convincing them to overlook steep losses and grant Musk near-total control. Goldman Sachs and Morgan Stanley, which led the float, were praised for a pre-IPO playbook that “focused on educating investors very early” and paved the way for a fixed “take it or leave it” price — a template analysts now expect Anthropic and OpenAI to copy.

Enthusiasts argue the IPO crowns SpaceX as the flagship of a new “hot IPO summer,” where AI and deep tech “suck up just a huge chunk of the money that’s available on public markets.” Supporters say Musk has “created enormous value for society” by driving down launch costs and building a global satellite network.

Skeptics counter that investors are betting on a company that lost $4.9 billion on $18.7 billion in 2025 revenue and is now valued mainly for speculative space-based AI services, not rockets or Starlink. Some warn that SpaceX is “really stress testing the limits of what a public company can be and how much it can be controlled by one single person.”

Days after the debut, the market’s verdict has only grown more extreme. A supersized green‑shoe option lifted the raise to $85.7 billion, and a post‑IPO rally pushed SpaceX’s worth above $2.7 trillion, briefly overtaking Amazon despite its vastly larger profits. Whether that reflects a sober bet on orbital AI infrastructure — or exuberance for Musk’s latest moonshot — is the question that will define SpaceX’s life as a public company.

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