SpaceX, the largest initial public offering in history, has listed on Nasdaq, raising $75 billion by offering 556 million shares, surpassing Saudi Aramco’s $29.4 billion IPO. On its first trading day, shares opened at $150, up over 11 percent from the $135 offering price, and once climbed to $168.75, pushing its market value above $2 trillion. With a roughly 42 percent stake, Elon Musk’s SpaceX holdings were worth more than $840 billion. Combined with his Tesla stake valued at around $320 billion, his total wealth exceeded $1 trillion, making him the world’s first trillionaire.
On the morning of the 12th local time, SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen in New York, together with Elon Musk in Texas, remotely rang the Nasdaq opening bell. Founded by Musk in 2002, SpaceX’s businesses cover space launch, satellite internet and artificial intelligence. Addressing employee stock gains, Shotwell noted that many already wealthy employees have stayed, saying that anyone not willing to keep pushing forward wouldn’t be the right fit for the company anyway.
