Overview
- SpaceX sold about $75 billion of new Class A shares and its stock jumped on debut, closing near $160.95 to $166, which lifted the company’s market value to roughly $2.1–$2.2 trillion and made Elon Musk the first on‑paper trillionaire following the June 12 listing.
- Company filings show Musk will keep roughly 82 percent of voting power after the listing, a super‑voting structure that leaves public shareholders with little formal control over management decisions.
- An analysis of the debut price estimates about 4,400 current and former employees became paper millionaires and roughly 400 hold stakes worth over $100 million, although most gains are locked until vesting or lockup expirations and depend on the stock’s future price.
- Pre‑IPO disclosures show Starlink is the main cash generator while xAI and orbital compute plans carry steep costs, with filings reporting roughly $18.7 billion in 2025 revenue, large GAAP losses including about $8.7 billion lost between early 2025 and March 2026, and IPO proceeds earmarked for AI computing, rockets and satellite expansion.
- Market watchers warn the float is small, rapid index entry and heavy retail interest could amplify swings, and analysts and lawmakers have already challenged the valuation and governance, citing Morningstar’s view that the company may be overvalued and calls from politicians to rethink tax and retirement rules for extreme wealth.