Elon Musk’s SpaceX had a successful initial public offering in the US, with early investors seeing a 31% increase and closing 19% above the $135 offering price at $160.95. This debut catapulted SpaceX’s market capitalization to around $2.2 trillion on the first trading day, making Elon Musk the world’s first trillionaire.
SpaceX, on its stock market debut, became the sixth most valuable public company globally, marking a significant milestone. The IPO, which raised approximately $75 billion, witnessed substantial demand from both institutional and retail investors, with orders surpassing $350 billion, leaving a third of them without stock allocation.
The listing of SpaceX was a significant event for the stock market, especially amidst the prevailing optimism surrounding artificial intelligence’s growth potential. The acquisition of Musk’s xAI earlier in 2026 and the company’s AI-focused strategies positioned the IPO as a litmus test for market enthusiasm towards AI-driven business models, as noted by analysts.
Analysts cautioned about the stock’s high valuation potentially outpacing its fundamentals, citing SpaceX’s $4.28 billion net loss in the first quarter of 2026. Notably, SpaceX’s IPO was one of the largest in history, reflecting the market’s appetite for innovative ventures and technologies.
For US IPOs raising over $1 billion, the largest day-one gain was seen by design software maker Figma in 2025, rising by 250% on debut but currently trading around 45% below its IPO price after initial gains were relinquished. Following Musk’s trillionaire status, Democratic lawmakers like Senator Elizabeth Warren and Representative Ro Khanna called for a wealth tax on the wealthiest Americans.
