Elon Musk Tops $1.1T as SpaceX IPO Values Firm at $2.1T
SpaceX’s Nasdaq debut on June 12 valued the company at about $2.1 trillion and pushed Elon Musk’s net worth past $1.1 trillion, making him the first individual estimated to be a trillionaire.
SpaceX priced 555.56 million shares at $135 each in a primary offering on June 11, raising $75 billion. When the stock began trading on Nasdaq under the ticker SPCX on June 12, the company’s market value rose to about $2.1 trillion and lifted Elon Musk’s net worth above $1.1 trillion.
SPCX opened at $150, reached an intraday high of $176.45 and settled near $159 by late afternoon. Trading volume on the debut was roughly 475.8 million shares. Retail investors were allocated 22.5% of the offering.
Founders and insiders hold about 38% of SpaceX, equivalent to roughly 6.4 billion shares including options. Real-time wealth estimates show Musk’s stake gained about $188 billion on the opening pop, putting his total near $1.1 trillion.
Financial filings report approximately $18.7 billion in revenue and a $4.9 billion net loss for the most recent full year. In the first quarter, SpaceX recorded $4.69 billion in revenue and a $1.94 billion operating loss. The Starlink connectivity business generated $1.19 billion in operating profit in the quarter.
SpaceX’s artificial intelligence unit posted $818 million in Q1 revenue and $2.47 billion in losses. The AI division accounted for 76% of the company’s $10.1 billion in first-quarter capital spending.
Data from JPMorgan showed hedge funds reduced exposure to major U.S. technology stocks ahead of the IPO, and some institutional investors rotated out of large-cap tech holdings to participate in the listing. The size of the raise and the stock’s opening performance affected market liquidity on the debut.
The debut placed SpaceX among the world’s largest publicly traded companies by market capitalization. Investors are pricing in growth from Starlink subscription revenue, reusable rockets and launch services, NASA and commercial contracts, defense work and plans for orbital AI and space infrastructure.
Investors will monitor upcoming earnings reports and capital-spending updates for data on revenue trends and margins. Musk’s net worth will move with SPCX’s share price.
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