Elon Musk's SpaceX raises $75bn ahead of record stock market debut

The public sale is also expected to make Elon Musk the world's first trillionaire.

SpaceX has successfully raised $75 billion through its initial public offering (IPO), marking the largest IPO in U.S. history. The IPO priced 555.56 million shares at $135 each, giving the company a valuation of approximately $1.77 trillion. Elon Musk retained all of his shares, maintaining a stake worth over $866 billion. The company is slated to begin trading on the Nasdaq under the ticker symbol "SPCX," although trading might not start immediately at market open. This IPO positions SpaceX among the most valuable companies globally, with speculation that upcoming public offerings from Anthropic and OpenAI could rival or surpass it later in the year.

SpaceX, the private aerospace firm founded by Elon Musk, is set to make its Wall Street debut with what could become the largest IPO in history, offering 555.6 million shares at $135 each, potentially raising $75 billion. Musk, already the wealthiest individual, might become the world’s first trillionaire. A key driver behind the IPO is SpaceX’s plan to deploy 100,000 next-generation Starlink satellites and AI-powered space data centers, requiring significant capital. Despite going public, Musk will maintain control through a special class of shares, effectively making him irremovable as CEO.

SpaceX priced its record-breaking US IPO at $135 per share, raising $75 billion and valuing the company at $1.77 trillion, making it one of the world's most valuable firms.

Elon Musk's mega-conglomerate SpaceX made history on Thursday, raising $75 billion in the biggest initial public offering on record. In an announcement posted online, SpaceX confirmed the pricing of its IPO of 555,555,555 shares at $135 each. The stock is expected to start trading publicly on Friday under the ticker SPCX. The listing blows past the previous record-holder for the biggest IPO, Saudi Aramco, whose 2019 listing netted $29.4 billion.