SpaceX Shares Surge on Debut, Elon Musk Becomes World's First Trillionaire

SpaceX, Elon Musk's aerospace company, experienced a significant surge in its stock value during its debut on the Nasdaq exchange. The shares, trading under the ticker "SPCX," opened at $150 and reached a high of $176.52 before closing at $160.95, marking a 19.2% increase from its IPO price of $135.

This strong market performance propelled SpaceX's valuation to $2.1 trillion, positioning it as the seventh most valuable publicly traded company globally and exceeding the market capitalization of Musk's electric vehicle giant, Tesla. The company's successful IPO, initiated in May with a filing to the U.S. Securities and Exchange Commission (SEC), raised approximately $75 billion by selling 555.6 million Class A shares at $135 each. This figure surpasses the $29.4 billion IPO of Saudi Aramco in 2019, establishing it as the largest IPO in history.

Following the IPO, calculations indicate that Elon Musk's total net worth has surpassed $1 trillion, considering his Tesla holdings and other assets. SEC filings reveal that Musk will retain approximately 82.4% of the voting rights post-IPO, ensuring his decisive influence on major corporate decisions requiring shareholder approval. Founded by Musk in 2002, SpaceX continues its mission to develop reusable rocket technology and enable humanity's permanent presence in space.