Elon Musk’s SpaceX has landed on the New York Stock Exchange’s Nasdaq index with a 11% premium at $150 per share on Friday. SpaceX officially priced its IPO at $135 per share, raising $75 billion in the largest public offering in stock market history.
Minutes after the first trade, however, the shares soared further, rising 20% above the IPO price to $162 apiece on the Nasdaq.
The IPO had received a strong response from investors, with demand crossing $350 billion, including $250 billion orders placed by institutional buyers — resulting in a four-time subscription.
Earlier at the listing event, SpaceX CEO Elon Musk showed a QR code which he encouraged people to scan and trade SpaceX shares using major cryptocurrencies. He said, “You can buy and sell SpaceX shares using cryptocurrency… I want people to use the power of the blockchain.”
Driven by his massive equity stake and the soaring public valuation of SpaceX alongside his other ventures, Musk has officially become the world’s first trillionaire. This marks an unprecedented milestone in the history of personal wealth accumulation.
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Despite going public, Musk will retain tight strategic and operational control over the company. He is set to receive 350 million Class B shares. In corporate structuring, Class B shares typically carry super-voting rights (often granting multiple votes per share compared to standard Class A public shares), ensuring that founders can fend off hostile takeovers and maintain their long-term vision.
The IPO is a testament to SpaceX’s strong backing from major financial institutions, bridging the gap between its early private funding days and its public market debut: BlackRock, the world’s largest asset manager, participated as a key anchor investor in the IPO, providing significant institutional validation to the listing.
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At the IPO price of $135 and roughly 555.6 million shares, the implied valuation stood near $1.75 trillion, making SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap.
The offering is on track to dwarf every previous listing, including Saudi Aramco’s 2019 record. A $75 billion raise is more than double Aramco’s haul.
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