SpaceX prices record IPO at $135 a share, raising $75 billion at $1.77 trillion valuation, Musk becomes first paper trillionaire
Elon Musk’s space company will raise $75 billion in the largest US initial public offering, debuting Friday on Nasdaq at a $1.77 trillion valuation—catapulting Musk to a paper fortune exceeding $1 trillion.
Record-breaking offering
SpaceX on Thursday set the final price of its initial public offering at $135 per share, selling 555.6 million shares and securing $75 billion in proceeds. The valuation reaches $1.77 trillion, instantly making this the largest IPO ever in the United States and the seventh most valuable publicly listed US company. Trading on the Nasdaq is slated to begin on Friday, with 30 percent of the shares reserved for retail investors. Elon Musk retains an 82 percent stake, preserving his control over the company.
- Saudi Aramco IPO raises $25.6–29 billion, setting the previous record
- SpaceX sets IPO price at $135 per share, raising $75 billion at a $1.77 trillion valuation
- SpaceX shares expected to begin trading on the Nasdaq
Musk’s trillion-dollar milestone
The offering vaults Musk to a personal net worth above $1 trillion on paper, based on his combined holdings in SpaceX and Tesla. The rocket maker’s valuation already surpasses established heavyweights such as JPMorgan Chase, Eli Lilly, and Tesla itself. Saudi Arabia’s Aramco had previously held the record with a $25.6 to $29 billion raise in December 2019.
Skepticism amid a lofty valuation
Some market analysts remain unconvinced by the $1.77 trillion price tag, pointing to the company’s losses in the previous fiscal year and revenue that lags behind other tech giants. SpaceX generates most of its income through the Starlink satellite internet service, while the xAI artificial intelligence project is viewed as a key growth area. The underwriting banks have a 30-day overallotment option, which could push the valuation even higher.
Competitive pressures
Founded in 2002, SpaceX dominates the orbital launch industry, carrying more than 80 percent of global payload to orbit in the past three years. The company now faces mounting competition from Blue Origin, the space venture of Amazon founder Jeff Bezos, which is vying for both commercial launch contracts and lucrative government missions.
