Shares of SpaceX, a company backed by Elon Musk, have seen a significant rise after going public. The stock is now trading above $220, bringing SpaceX’s market capitalization close to that of tech giant Microsoft. Since its IPO on June 12 at $135 per share, the stock has surged by about 63%.
This rally has led to a combined market capitalization of SpaceX and Tesla reaching a record $4.4 trillion, surpassing Apple’s market value and nearing that of Google. The surge is being described as unprecedented, marking one of the largest IPO rallies in history within a short span.
SpaceX’s recent IPO raised a remarkable $85.7 billion, making it one of the most substantial fundraising exercises ever conducted. Additionally, Elon Musk’s personal wealth has soared, surpassing $1.3 trillion, a milestone never achieved by an individual before.
Musk’s net worth now exceeds the market capitalization of all but 12 publicly listed companies globally. The combined value of SpaceX and Tesla has now exceeded that of Apple, showcasing the strong investor interest in Musk’s business ventures.
On its Nasdaq debut, SpaceX shares closed 19% higher than the offering price of $135.
