SpaceX shares surge 19% in historic IPO, reaching $2.2 trillion market cap
By
Laurence Darmiento
Kettled twice. Extra chewy, extra trustworthy.
Summary
SpaceX completed a historic initial public offering, with shares rising 19% on the first day of trading to close at $160.95. The IPO gave the company a $2.2-trillion market cap and made Elon Musk the world's first trillionaire. The milestone caps a remarkable turnaround for the aerospace company that nearly shut down after early launch failures before its Falcon 1 rocket succeeded in 2008.
Key quotes
· 4 pulledSpaceX, the once fledgling aerospace company that Elon Musk predicted had a slim chance of survival, reached new heights on Friday with a historic initial public offering.
Shares of SpaceX, trading under the ticker SPCX, closed the day at $160.95, 19% above the offering price, transforming it into one of the world's most valuable companies with a $2.2-trillion market cap.
The IPO also made the 54-year-old Musk the world's first trillionaire.
The IPO capped a remarkable journey for a 24-year-old company that nearly shut down after a series of failed launches until its Falcon 1 rocket in 2008 orb
You might also wanna read
SpaceX IPO Makes Elon Musk World's First Trillionaire as Stock Opens at $150
SpaceX's highly anticipated IPO launched at $135/share, giving it a ~$1.77 trillion valuation and making Elon Musk the world's first trillio
Variety·17h ago
Elon Musk Becomes First Trillionaire After SpaceX's Record-Breaking IPO
Elon Musk became the world's first trillionaire after SpaceX went public in the largest IPO ever, priced at $135 per share. The stock opened
Deadline·13h ago
Elon Musk becomes world's first trillionaire after SpaceX's record $1.77 trillion IPO
Elon Musk has become the world's first trillionaire following SpaceX's record-breaking IPO, which valued the company at $1.77 trillion — the
Rolling Stone·10h ago
SpaceX goes public in massive IPO, potentially making Elon Musk the first trillionaire
The article reports on SpaceX's IPO, which allows the public to buy shares of the combined rocket, AI, and social media company for the firs
The Verge·18h ago
Elon Musk becomes world's first trillionaire after SpaceX IPO
Elon Musk has become the world's first trillionaire after SpaceX's IPO (ticker: SPCX) pushed his net worth past the trillion-dollar mark. Hi
The Verge·16h ago
Elon Musk Set to Become World's First Trillionaire After SpaceX IPO Surpasses Expectations
Elon Musk is on track to become the world's first trillionaire following SpaceX's IPO on Wall Street, which opened with a higher-than-antici
Rolling Stone·15h ago