SpaceX shares jump 19% on first day, making Musk the first trillionaire

Record-breaking debut

SpaceX's IPO priced 555.6 million shares at $135 apiece, raising $75 billion — more than double the $29.4 billion Saudi Aramco collected in 2019. The offering valued the company at $1.77 trillion before trading began. The Nasdaq ticker is SPCX.

Frenzied first session

After a two-hour auction to manage order flow, SPCX shares opened at $150, an 11% premium to the IPO price. They soon accelerated, hitting an intraday high of $176.52 before easing to a close of $161.11, a gain of 19.3%. Retail investors placed over $100 billion in orders and were allocated about 20% of the offering.

Musk’s trillion-dollar milestone

The surge pushed Elon Musk’s net worth beyond $1 trillion, making him the first person ever to reach that threshold. Speaking at the Nasdaq bell-ringing, Musk recalled doubting the venture’s odds.

If someone had told me this would happen, I would have thought: you must be smoking some really good crack, because I think this company is going to fail.

He added that the project had “less than 10% chance of success” and that without new companies venturing into space “we will never be a truly spacefaring civilization.”

SpaceX eclipses Tesla

By market close, SpaceX was valued at $2.1 trillion, placing it as the sixth-largest US-listed company and eclipsing Tesla’s $1.5 trillion.

AI IPOs on the horizon

The blockbuster debut has intensified focus on upcoming listings. Anthropic and OpenAI have both filed confidential IPO paperwork, with valuations approaching $1 trillion each, setting the stage for what could be a $3 trillion trio of newly public AI companies.