'Almost irrational fascination with Elon Musk': How SpaceX's IPO fueled Wall Street fever

The hours leading up to SpaceX's initial public offering (IPO) created a fever pitch on Wall Street, as the company, founded by Elon Musk, made its debut. On Friday, June 12, 2026, SpaceX planned to offer over 555 million shares at $135 each, a move that was anticipated to be the largest IPO in history. The company's entry into the public market immediately placed it among the top 10 largest capitalized companies globally.

Following the successful IPO, Elon Musk was officially declared the first trillionaire in history. Musk, who had literally promised the Moon, Mars, and "even further in the future" to his admirers, saw his net worth surge. The event marked a significant moment for Wall Street, with SpaceX ushering it into a "new dimension."

However, this momentous occasion was not a foregone conclusion. For years, Musk had repeatedly stated that SpaceX would not be introduced to the stock market until its revenues reached a specific level. This suggests a strategic approach to the company's public debut, balancing ambitious long-term goals with financial readiness.

The article notes that the billionaire, based in Texas, had arrived in the New York region by private jet days earlier to closely monitor the preparations for what was already shaping up to be the largest IPO in history. The article is marked as reserved for subscribers, with 82% of the content remaining.