Particle.news
Download on the App Store
78 ARTICLES
·
last wk.

SpaceX Raises $75 Billion in Largest IPO, Values Near $2.1 Trillion

Elon Musk keeps roughly 84–85% of voting control, a setup that could drive fast index flows while exposing public holders to concentrated governance and valuation risk.

Morton said the SpaceX IPO could become a mafia-making event, like PayPal's 2002 IPO and sale.
Image
Elon Musk became the world's first trillionaire on Friday.
Image

Overview

  • The IPO priced 555.6 million Class A shares at $135 and began trading on Friday, June 12, 2026, with SPCX opening around $150, peaking near $176 and closing at $160.95 for a market value near $2.1 trillion.
  • SpaceX raised about $75 billion in the offering, producing large first‑day paper gains for Musk, early investors and employees and creating roughly 4,400 new employee millionaires on paper.
  • Public filings show Starlink is the company’s main profitable cash engine while xAI and Starship programs are driving substantial GAAP losses and heavy capital expenditure commitments.
  • The S‑1 revealed SpaceX holds 18,712 BTC and retained a dual‑class share structure that leaves Elon Musk with about 84–85% of voting power, limiting public influence over strategy.
  • A thin public float, a meaningful retail allocation and recent index rule changes that speed inclusion could force passive flows into SPCX soon, a dynamic analysts say raises short‑term volatility and valuation risk even as some firms set bullish multi‑year targets.