SpaceX Makes Historic IPO Debut, Shares Surge 30% on First Day
SpaceX shares opened at $150 on Nasdaq, 11% above the IPO price, and soared 30% by midday. The $75 billion IPO is the largest in history, potentially making Elon Musk the world's first trillionaire.
SpaceX made its long-awaited public debut on the Nasdaq on June 12, with shares opening at $150, an 11% pop from the IPO price of $135. By midday, the stock had surged 30%, driven by record-breaking trading volume. Robinhood reported unprecedented traffic on its platform following the debut.
The company sold 555.6 million shares at $135 each, raising $75 billion in the largest IPO ever. At this valuation, Elon Musk is set to become the world's first trillionaire, given his controlling stake.
Key figures from the S-1 filing: SpaceX lost $4.9 billion on revenue of $18 billion in 2025, with cumulative losses exceeding $37 billion since inception. Musk holds 85.1% of voting power. According to the New York Times, approximately 4,400 SpaceX employees could become millionaires through the IPO.
Pre-IPO, SpaceX secured major compute deals: Anthropic will pay $1.25 billion per month, and Google $920 million per month, helping offset losses. The S-1 also warned investors about potential future dilution, fueling merger speculation with Tesla. In a CNBC interview, COO Gwynne Shotwell suggested a merger could simplify Musk's life.
