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SpaceX IPO: Musk Becomes World's First Trillionaire
14 Jun
Summary
- SpaceX IPO valued CEO Elon Musk as world's first trillionaire.
- The offering raised $75 billion, largest in history.
- Shares surged, creating a $2 trillion market cap.
SpaceX CEO Elon Musk has become the world's first trillionaire following the company's monumental initial public offering (IPO). The IPO, priced at $135 per share, successfully raised $75 billion, setting a new record for the largest IPO in history.
Trading commenced on the Nasdaq at approximately 11:45 AM ET, with shares opening at $150. By noon, the stock had climbed to $168, propelling SpaceX's market capitalization to an astonishing $2 trillion. This valuation positions SpaceX as the seventh-largest company globally.
SpaceX notably allocated a significant portion of its IPO shares, around 20%, to retail investors, a departure from the typical 10-5% range. Despite this, demand for shares reportedly exceeded $100 billion, leading to many retail investors receiving only a fraction of their requested amounts.
Looking beyond the initial trading frenzy, analysts offer varied perspectives on SpaceX's long-term potential. Some, like Oppenheimer with an Outperform rating and a $190 price target, are optimistic, citing the company's access to capital, AI integration, and manufacturing expertise.
