SpaceX begins trading on the Nasdaq under SPCX after a $75 billion raise that could crown Elon Musk
Elon Musk’s SpaceX begins trading publicly on the Nasdaq today under the ticker SPCX, capping the largest initial public offering in market history. The rocket and satellite company priced its shares at $135 on Thursday night, selling exactly 555,555,555 shares to raise roughly $75 billion at a valuation of about $1.77 trillion.
The number to watch is not just the stock price. If shares hold anywhere near their offer price, Musk’s stake in the company will push his personal fortune past $1 trillion, making him the first trillionaire in recorded history.
What happened
SpaceX confirmed its final pricing late Thursday, and the figures obliterate every previous record. The $75 billion raise is more than double the $29.4 billion record set by Saudi Aramco in 2019, and it dwarfs Alibaba’s $21.8 billion offering from 2014.
The pricing itself broke with Wall Street tradition. Rather than offering a price range and letting underwriters settle on a final number based on demand, SpaceX fixed its $135 price before the investor roadshow even began, making Thursday’s pricing a formality. Demand was never in question. Reuters reported the offering was three to four times oversubscribed, with total investor interest reaching an estimated $250 billion.
One detail separating this debut from typical mega-IPOs: ordinary investors got an unusually large seat at the table. While hot IPOs typically allocate only 5% to 10% of shares to retail investors, about 30% of SpaceX’s allocation went to that group, available through platforms including Robinhood and SoFi. SpaceX also granted its underwriters an option to buy an additional 83.3 million shares, which could push the total raise even higher.
SpaceX has officially confirmed that they are on track to IPO tomorrow at $135 per share! 🚀
“SpaceX today confirmed the pricing of its initial public offering of 555,555,555 shares of its Class A common stock, at a public offering price of $135 per share. The shares are… pic.twitter.com/mo8ZhcIGEx
— Sawyer Merritt (@SawyerMerritt) June 11, 2026
Why this matters
The trillionaire milestone is the headline, but the math behind it is staggering. Musk entered the week worth roughly $696 billion, according to the Bloomberg Billionaires Index, already the richest person alive. His SpaceX stake, estimated between $743 billion and $866.5 billion at the IPO valuation, takes him into territory no individual has ever occupied.
For perspective, Oxfam calculates that spending $1 million every single day would take 2,740 years to burn through $1 trillion. As a trillionaire, Musk would control wealth equal to roughly 3% of U.S. GDP. Oil baron John D. Rockefeller, long the benchmark for American fortune, peaked at about 1.5% when he died in 1937.
The debut is also a referendum on the broader market. SpaceX is the first of three potential mega offerings this year, with AI companies OpenAI and Anthropic both eyeing the public market at valuations approaching $1 trillion each. A strong first day for SPCX likely accelerates those listings. A flop could freeze them.
Important context readers should know
SpaceX is no longer just a rocket company. It acquired Musk’s artificial intelligence startup xAI earlier this year, and most of its revenue now flows from Starlink, its satellite internet business. The company’s prospectus also revealed a call option to acquire AI coding startup Cursor shortly after the IPO, plus a compute deal under which Anthropic will pay SpaceX $1.25 billion per month through May 2029.
There’s a wrinkle most coverage has overlooked: an unofficial verdict on the stock already exists. A SpaceX-linked perpetual contract trading on crypto exchange Hyperliquid rebounded sharply ahead of today’s debut, pointing toward a possible $2.4 trillion first-day valuation, which would imply a significant pop above the $135 offer price.
Investors should also note the timing question. Nasdaq’s market makers must match buy and sell orders to find an opening price, a process that can stretch well past the opening bell for IPOs this size. Shares may not actually trade until midday Eastern time.
What happens next
History urges caution for anyone chasing the first-day pop. Meta, Alibaba, Visa and Arm Holdings all eventually traded below their offer prices after celebrated debuts, even though several became outstanding long-term investments. Lockup expirations, which free insiders to sell, have historically pressured big IPOs months after listing.
The open questions now are simple. Where does SPCX close on day one, does Musk officially cross the trillion-dollar line before the bell, and do OpenAI and Anthropic take this as their green light? By this afternoon, at least two of those answers will be in.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. The author and publication are not registered investment advisors and do not provide personalized investment recommendations.