SpaceX IPO Soars 19% to $161, Musk Becomes First Trillionaire, June 14

SpaceX priced its IPO at $135 per share and raised $75 billion, the largest offering in stock market history. Shares opened at $150 on June 13 and closed at $161, giving the rocket company a market value of $2.1 trillion. Elon Musk’s combined holdings in SpaceX and Tesla now put his net worth at $1.1 trillion, making him the world’s first trillionaire.

Record IPO Breaks Market Benchmarks

SpaceX raised $75 billion, roughly triple the size of Alibaba’s 2014 IPO, which was the previous record. The stock priced at $135 with no haggling or price range offered to investors. Shares jumped to $168 intraday before settling at $161, a 19% gain from the IPO price. This far exceeds the typical 7% first-day jump for companies going public from 1980 through 2025.

Valuation Reflects Future Bets, Not Current Earnings

SpaceX trades at 112 times last year’s revenue despite posting a $4.9 billion loss in 2025 and cumulative losses exceeding $41 billion since 2002. The $2.1 trillion valuation makes SpaceX the sixth most-valuable U.S. company, surpassing Tesla, Musk’s electric vehicle maker. Analysts at investment banks noted the deal was priced based on what one man wanted, not market forces.

Musk’s Wealth Milestone and Strategic Partnerships

Musk founded SpaceX in 2002 with less than 10% confidence it would succeed. The company now employs 22,000 full-time staff and operates Starlink satellite internet, which generates recurring revenue. SpaceX recently signed computing agreements with Google and Anthropic, pledging 110,000 and 220,000 NVIDIA GPUs respectively. The company is developing AI1, its first satellite designed specifically for AI computing, deepening ties with chip supplier NVIDIA.

Why SpaceX Went Public Now

Musk stated SpaceX needs capital to fund ambitions including satellite networks, orbital data centers, and establishing a human colony on Mars. The company marked the IPO by ringing the Nasdaq opening bell from Starbase in Texas. With a market cap now exceeding $2 trillion, SpaceX has the resources to pursue these long-term goals while competing in commercial space launch and satellite internet markets.

Final Thoughts

SpaceX’s record IPO values the unprofitable rocket maker at $2.1 trillion based on future earnings potential, not current performance. Musk’s $1.1 trillion net worth reflects market confidence in his two mega-cap companies, not immediate cash flow.

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