SpaceX debuted on the Nasdaq on June 12 in the largest initial public offering in history, raising $75 billion and closing its first trading day with a market capitalization of $2.1 trillion. CEO Elon Musk's estimated net worth topped $1.1 trillion, making him the world's first trillionaire, according to Forbes.
A $2 trillion debut
Shares opened at $150, an 11 percent premium over the $135 IPO price, and climbed as high as $173 before settling near $161. The valuation places SpaceX alongside Apple, Microsoft, Nvidia, Amazon, and Alphabet among the most valuable US companies — despite the fact that SpaceX posted a net loss of nearly $5 billion last year on relatively modest revenue.
Broader market surge
The SpaceX listing coincided with a broader market rally fueled by the US-Iran peace deal announcement. The S&P 500 and Nasdaq both posted strong gains as oil prices tumbled and investor sentiment improved. JPMorgan Chase CEO Jamie Dimon called Musk "the Edison of our time" during a recent public conversation.
What comes next
SpaceX's public listing unlocks a new wave of capital for its Starship program, Starlink satellite internet expansion, and AI ventures. The company is now the centerpiece of Musk's business empire, which also includes Tesla, xAI, and the social media platform X.