SpaceX IPO Makes Elon Musk World's First Trillionaire as Stock Opens at $150
By
Todd Spangler
Kettled twice. Extra chewy, extra trustworthy.
Summary
SpaceX's highly anticipated IPO launched at $135/share, giving it a ~$1.77 trillion valuation and making Elon Musk the world's first trillionaire. The stock opened 11% higher at $150/share on its first trading day. SpaceX, which encompasses rocket manufacturing, satellite internet (Starlink), AI operations, and X (formerly Twitter), set a record for the biggest IPO in history.
Key quotes
· 3 pulledElon Musk is officially the world's first trillionaire after his SpaceX tech company debuted Friday at $150/share, 11% higher than the company's IPO pricing.
SpaceX — rocket manufacturer, satellite internet service provider, AI firm and owner of X (aka Twitter) all rolled into one — had already officially set a record for the biggest IPO in history with its initial stock pricing.
On Thursday it confirmed the pricing of its IPO of 555.6 million shares of its Class A common stock, at a public offering price of $135.00/share.
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