SpaceX successfully completed its initial public offering, raising $85.7 billion, a record that solidifies its status as the largest IPO in history. The company priced 555.6 million shares at $135 each, with the final amount raised surpassing initial projections. The IPO marked a significant milestone for the space exploration company, which has been a focal point of media and investor interest for years. SpaceX's stock opened at $150 on the Nasdaq, a 11% increase from the IPO price, and continued to rise, closing at $160.95, up 19%.
The IPO has had wide-ranging implications, with major financial institutions like Goldman Sachs and Morgan Stanley reaping substantial fees. Additionally, SpaceX's valuation has surged, surpassing Amazon to become the fifth-most valuable company globally. The company's stock price climbed 20% on June 15, and over 8% in early trading the following day. SpaceX's valuation reached $2.7 trillion, a testament to investor confidence in its future prospects. The IPO also triggered discussions about potential mergers, with SpaceX's COO, Gwynne Shotwell, suggesting a possible merger with Tesla could simplify Elon Musk's business operations.
The IPO process revealed significant financial details about SpaceX, including its $4.9 billion loss in 2025 on over $18 billion in revenue. The company has accumulated more than $37 billion in losses since its inception. Elon Musk holds about 85.1% of the company's voting power, granting him substantial control over its operations. The IPO also highlighted the potential for thousands of employees to become millionaires, with 4,400 employees potentially benefiting from the stock offering.
Source: techcrunch
