SpaceX shares skyrocket as money raised hits $85.7 billion
SpaceX shares surged 20% on Monday, raising a record $85.7 billion in its IPO, exceeding the planned $75 billion due to high demand and a greenshoe option. The company’s market value soared to over $2.5 trillion, placing it among the world’s six largest firms and propelling Elon Musk to become the first trillionaire.
SpaceX’s shares jumped 20% on Monday, closing at $192.8 after a 19.7% gain, following a 19% rise on its Nasdaq debut at $135. The two-day surge pushed the company’s valuation to over $2.5 trillion, surpassing Broadcom, Saudi Aramco, and Tesla, and ranking it just behind Amazon. Investor demand was so strong that underwriting banks exercised a greenshoe option, allowing the sale of an additional 83 million shares. SpaceX ultimately sold 639 million shares, raising $85.7 billion—$10.7 billion more than its initial target of $75 billion. Founded by Elon Musk in 2002, SpaceX has grown from a rocket startup into a major satellite operator while integrating his artificial intelligence venture, xAI, which now includes the social media platform X (formerly Twitter). The company’s sky-high valuation hinges on Musk’s ambitious plans, including unproven projects like human colonization of Mars and space-based data centers. The IPO marked SpaceX’s public market debut, solidifying its status as a dominant force in aerospace and technology. Analysts attribute the surge to confidence in Musk’s leadership and the company’s rapid expansion into high-growth sectors beyond traditional spaceflight.
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