Overview
- SpaceX completed the world's largest IPO Friday, selling 555.6 million shares at $135 each to raise about $75 billion and begin trading on Nasdaq under the ticker SPCX.
- Shares surged more than 20% in early trading, lifting the company’s market value into a roughly $1.7–2.3 trillion range and pushing market estimates of Elon Musk’s net worth past $1 trillion.
- The deal was heavily oversubscribed with reports of very large institutional orders, an unusually large retail allocation (reported up to about 20–30%), and lead underwriters including Goldman Sachs, Morgan Stanley and Bank of America.
- SpaceX said the proceeds will fund Starlink expansion, Starship development and space-based AI and data‑center projects while Musk retains outsized voting control through a dual‑class structure.
- The listing has already drawn political and activist scrutiny, including a formal request from Senator Elizabeth Warren for SEC review and public protests, raising questions about regulation, index inclusion and market volatility.