SpaceX Completes Record $75 Billion IPO, Making Elon Musk World’s First Trillionaire SpaceX’s stock market debut has not only rewritten financial record books, it has also concentrated unprecedented economic and political power in the hands of one person.

On June 11, SpaceX confirmed it had priced 555.6 million shares at $135 each, raising $75 billion and securing “the largest IPO in history,” eclipsing Saudi Aramco’s 2019 listing. TechCrunch noted that at this pricing, the deal “looks set to make Musk the world’s first trillionaire.” The company began trading on Nasdaq the next day under the ticker SPCX.

When trading opened on June 12, SPCX started at $150 a share, an 11% jump from the IPO price, spiking as high as $167 and valuing SpaceX at more than $2 trillion — enough, if the price stayed above roughly $138, to make Elon Musk the world’s first trillionaire. The Economist reported that shares closed at $161, up about 19%, putting the firm near a $2.1 trillion valuation and cementing Musk’s new status. Demand was frenzied: one analysis cited “more than $70 BILLION worth of retail orders alone” for the IPO, and Robinhood said it saw “record-breaking” traffic as SpaceX stock began trading.

In the days after the debut, the rally continued. TechCrunch’s post-IPO wrap described how the offering ultimately “grew to $85.7 billion raised” as the greenshoe was exercised and shares climbed further, while the Financial Times reported a second day of gains with the stock up another 10%.

Supporters frame the listing as a triumph of American capitalism and engineering. One TechCrunch package highlighted that 4,400 SpaceX employees could become millionaires through their equity, a point amplified in a viral X post declaring the IPO would “create 4,400 new Millionaires, from engineers to Cafeteria workers. God bless Capitalism.”

Skeptics, however, worry about the risks of such concentrated wealth and control. TechCrunch noted that Musk now holds around 85% of SpaceX’s voting power and has structured the company to severely limit legal challenges, even as SpaceX has cumulatively lost tens of billions of dollars pursuing its rocket, satellite and AI ambitions. The Verge underscored that Musk’s paper wealth now exceeds the GDP of most countries, “largely based on the promise” of orbital AI data centers and other still-unproven ventures.

As trading in SPCX continues, the split between celebration and concern captures the core tension of the SpaceX IPO: investors are betting that a single company — and a single founder — can deliver on perhaps the most ambitious technological roadmap ever financed in public markets.

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