SpaceX Launches Record $75 Billion IPO, Making Elon Musk Trillionaire
SpaceX executed the largest IPO in history on June 12, 2026, raising $75 billion and propelling Elon Musk to become the world's first trillionaire.
On June 12, 2026, Space Exploration Technologies Corp. (SpaceX) debuted on the Nasdaq under the ticker SPCX in the largest initial public offering in history. The company priced 555.6 million shares at $135 each, raising approximately $75 billion. After underwriters exercised a greenshoe over-allotment option, total proceeds rose to approximately $86 billion. Shares opened at $150 and peaked above $225 before settling around $161, giving the company a market capitalization exceeding $2 trillion.
The listing established founder Elon Musk as the world's first trillionaire, with a net worth estimated between $1.1 trillion and $1.3 trillion. Musk maintains dominant control of the company through a dual-class share structure, granting him approximately 82% to 85% of the total voting power. To increase accessibility, SpaceX allocated an unusually high 20% to 30% of shares to retail investors.
Financially, SpaceX remains unprofitable, reporting a 2025 net loss of $4.94 billion on $18.7 billion in revenue. While the Starlink connectivity segment is profitable, the company faces heavy losses in its space and AI divisions, the latter of which was expanded through a February 2026 merger with xAI. SpaceX intends to use the capital to fund orbital AI data centers, Starship development, and Mars colonization.
The IPO sparked significant market volatility, triggering a sell-off in other space-sector stocks as investors rotated capital into SpaceX. While some analysts view the valuation as a bet on the future of humanity, others, including Morningstar, characterized the stock as significantly overvalued, pegging its fair value at $63 per share.
