The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk’s stake in SpaceX<\/a> to an estimated $690 billion. The company is trading on the Nasdaq under the ticker “SPCX” after pricing its IPO on Thursday.<\/p>\n Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk’s net worth is now estimated at about $1.1 trillion.<\/p>\n SpaceX stock jumped after it began trading, rising to $168.75 a share before paring some of those gains to trade around $158 a share. It subsequently rebounded and reached a new high of $176.52.<\/p>\n OPENAI SIGNALS POTENTIAL STOCK MARKET DEBUT WHILE WEIGHING PRIVATE-COMPANY ADVANTAGES<\/a><\/p>\n Elon Musk founded SpaceX and continues to serve as its CEO. (Jessica Christian\/San Francisco Chronicle via Getty Images)<\/p>\n Investor demand<\/a> for SpaceX has been intense. Reuters reported this week that the company attracted more than $250 billion in orders, while Bloomberg News reported Thursday that retail investors alone submitted more than $70 billion in requests for shares.<\/p>\n The company is expected to allocate at least 20% of the offering to retail investors, according to Bloomberg \u2014 an unusually large portion for individual investors<\/a> in a deal of this size.<\/p>\n FEDERAL JURY DELIVERS VERDICT ON MUSK’S LAWSUIT AGAINST OPENAI<\/a><\/p>\n SpaceX’s IPO raised $75 billion and was the largest IPO in history, surpassing the $29 billion IPO of Saudi Aramco in 2019.<\/p>\n The IPO cemented Musk’s status as the world’s richest person, pushing the value of his holdings toward $1 trillion, a milestone no individual has previously reached.<\/p>\n SpaceX has grown into the world’s largest space company. (AFP via Getty Images)<\/p>\n Founded by Musk in 2002, SpaceX has grown into the world’s largest space company<\/a> and a dominant force in commercial launch services. The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.<\/p>\n ANTHROPIC FILES CONFIDENTIALLY FOR IPO<\/a><\/p>\n Starlink, SpaceX’s satellite internet<\/a> business, has emerged as a major growth engine, providing broadband connectivity to consumers, businesses and governments around the world. According to the company’s IPO filing, Starlink generated the majority of SpaceX’s $18.67 billion in revenue last year.<\/p>\n The public debut has long ranked among Wall Street’s<\/a> most anticipated offerings. SpaceX spent years as one of the world’s most valuable private companies, with investors eager for an opportunity to buy shares in the business.<\/p>\n SpaceX is the leading provider of commercial space launch services. (Joe Skipper\/Reuters)<\/p>\n According to the IPO filing, SpaceX will maintain a dual-class share structure that leaves control firmly in Musk’s hands. Class B shares will carry 10 votes each, while publicly traded Class A shares will carry one vote apiece. Musk is expected to retain roughly 85% of the company’s voting power following the offering.<\/p>\n Some 4,400 current and former SpaceX employees also stand to become millionaires through stock compensation<\/a> accumulated during their time at the company, according to The New York Times, citing an analysis by investment platform Hill.com.<\/p>\n SpaceX CFO Bret Johnsen, center left, and President Gwynne Shotwell, center, during the company’s IPO at the Nasdaq MarketSite. (Michael Nagle\/Bloomberg via Getty Images)<\/p>\n![\"Elon](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/06\/elon-musk.png\")
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