Overview
- SpaceX set the IPO price at $135 per share, sold about 555.6 million Class A shares to raise roughly $75 billion and landed a valuation near $1.77–1.8 trillion as it prepared to begin trading on Nasdaq under SPCX on Friday.
- The deal leaves Elon Musk with overwhelming control through a dual‑class structure that gives him roughly 82% or more of voting power while only a sliver of total equity was floated.
- Public filings show 2025 revenue of about $18.7 billion but a net loss near $4.9 billion driven largely by xAI integration and heavy AI and data‑center capital spending; Starlink is the company’s main revenue and profit engine.
- Underwriters reserved an option to sell nearly 83 million additional shares, the offering was heavily oversubscribed, and SpaceX allocated a large share to retail buyers — reported as high as 20–30% — a mix that could concentrate early trading and amplify volatility as index inclusion rules speed passive flows.
- The IPO funnels unprecedented liquidity to founders and early investors, could reshape M&A and venture exit dynamics by creating a handful of extremely well‑capitalized public buyers, and moves Musk closer to being the first person with a trillion‑dollar net worth on paper.