SpaceX stock jumps after record IPO, making Musk the first trillionaire

SpaceX made its Nasdaq debut on Friday, with its stock opening at $150 per share—above its $135 IPO price—and climbing to $166.90 by midday, valuing the company at over $2 trillion. The surge marked the world’s largest initial public offering, raising $75 billion, more than double Saudi Aramco’s 2019 record IPO. Elon Musk’s net worth jumped to $1.1 trillion, making him the first trillionaire, as SpaceX’s valuation outpaced its $5 billion loss and modest revenue in 2023. The IPO’s success signals strong investor appetite for high-growth tech companies, serving as a test case for future mega-listings, including AI firms Anthropic and OpenAI. SpaceX’s inclusion in the Nasdaq 100 within 15 trading days will make it a key holding for index-tracking funds, potentially driving further demand. Analysts note the stock’s performance may prompt portfolio reshuffling, with investors rotating into SpaceX from other tech giants. Despite its massive valuation, SpaceX’s worth remains uncertain, with the company citing a $28.5 trillion market opportunity—largest in human history—backed by its dominance in orbital launches and Starlink revenue. Comparisons to Tesla highlight SpaceX’s blend of established operations and ambitious long-term projects, like humanoid robotics. Musk previously doubted SpaceX’s success chances at 10%, while president Gwynne Shotwell and CFO Bret Johnsen rang the Nasdaq opening bell at the launch. Underwriters may add more shares within 30 days, potentially increasing SpaceX’s valuation further. The IPO also reflects Musk’s decades-long vision, rewriting Wall Street’s playbook by attracting retail investors and setting a precedent for future listings. While SpaceX awaits S&P 500 inclusion, its Nasdaq 100 entry will solidify its place among the most valuable companies globally.