Space Exploration Technologies Corp. (SpaceX) has officially rewritten financial history. On Thursday evening, the aerospace titan priced its highly anticipated initial public offering (IPO) at $135 per share, successfully raising a staggering $75 billion. Selling 555.6 million Class A shares, the debut marks the largest IPO in global history, pushing the company’s valuation to $1.77 trillion and positioning founder Elon Musk on the absolute threshold of becoming the world’s first trillionaire.
Shattering Records on Wall Street
The $75 billion capital raise comfortably eclipses the previous historic record held by Saudi Arabia’s state-run oil giant, Saudi Aramco, which raised $25.6 billion in 2019. Trading is set to begin today on the Nasdaq under the ticker symbol – SPCX.
Investor frenzy reached a fever pitch leading up to the listing, with demand running more than three times oversubscribed. The historic book-building process drew massive orders from global asset managers, hedge funds, and Gulf sovereign wealth funds. Notably, SpaceX broke traditional IPO norms by reserving an unprecedented 25% to 30% of the allocation for retail investors, a move aimed at keeping everyday supporters close to the company’s capital core. “We are embarking on a massive new growth phase, and we need capital for that,” Musk told prospective investors during a recent roadshow event, hinting at a future where AI data centers operate directly from orbit to bypass Earth’s energy limitations.
The IPO by the Numbers
The metrics backing the historic listing showcase the gargantuan scale of the newly public aerospace and AI conglomerate:
Total IPO Raise: $75 billion (potentially rising to $86 billion if underwriters exercise their over-allotment greenshoe option).
Shares Offered: 555.6 million Class A common shares.
IPO Price: $135 per share.
Initial Market Capitalization: $1.77 trillion, immediately making SpaceX the seventh-largest publicly traded company in the United States.
Musk’s Voting Power: 82.4% via high-vote Class B shares, ensuring his absolute operational control remains intact.
Elon Musk Nears Trillionaire Status
The blockbuster listing has supercharged Elon Musk’s personal fortune. According to the Bloomberg Billionaires Index, the IPO is expected to boost Musk’s net worth by approximately $275 billion, lifting his total wealth to roughly $970 billion.
His personal stake in SpaceX alone is now valued at a jaw-dropping $688 billion. Given the intense demand for the stock, market analysts anticipate a classic first-day “IPO pop” when active trading begins. If the stock rises by just over 4% from its debut price, Musk will officially cross the $1 trillion mark before the closing bell rings today.
Fueling a New Space and AI Infrastructure
While SpaceX has built its reputation on Falcon 9 reusability and its Starlink internet constellation, this IPO represents a massive bet on a broader technological convergence. Following a strategic merger earlier this year that integrated his artificial intelligence venture, xAI (makers of the Grok chatbot), into SpaceX, the company is positioning itself as an orbital AI infrastructure powerhouse.
The $75 billion influx of cash will be used to fund the rapid deployment of Starship V3 – the largest and most powerful rocket ever built, along with manufacturing massive, 70-meter wingspan AI satellites. Investors are overwhelmingly looking past the company’s current R&D-driven operational losses, choosing instead to focus on Starlink’s highly profitable base of over 10 million global subscribers and Musk’s projected $28 trillion addressable market for space-integrated AI. As the opening bell rings on Wall Street today, all eyes are locked on SPCX. Whether the stock heads straight for the stratosphere or experiences initial market turbulence, this debut stands as a permanent watershed moment for global capital markets.
