SpaceX held its initial public offering on the Nasdaq stock exchange and raised $75 billion. It was the largest IPO in history. The company’s founder and CEO, Elon Musk, became the first person in the world with a net worth exceeding $1 trillion, and thousands of employees became millionaires.
How the placement took place
The company offered 555.6 million shares at $135 each. At the opening bell, the shares were trading at $150, an 11% increase over the offering price. By the end of the day, they closed at $160.95, up 19%.
The Robinhood trading platform saw record traffic in the first few hours after SpaceX’s stock debuted on the public market. The underwriting banks earned approximately $500 million in commissions. Goldman Sachs and Morgan Stanley earned the most.
Musk’s control over the company
Elon Musk controls approximately 85.1% of SpaceX’s voting shares. This means that no other shareholder can significantly influence the company’s decisions, even if they join forces with others.
SpaceX COO Gwynne Shotwell hinted at a possible merger between SpaceX and Tesla in an interview with CNBC, noting that it “might make Elon’s life a little easier.” These remarks immediately caught the attention of Tesla shareholders.
Who benefited from the IPO
According to The New York Times, approximately 4,400 SpaceX employees could become millionaires as a result of this stock grant. This marks one of the largest single transfers of wealth from a company to its employees in the tech industry.
Prior to its IPO, SpaceX signed a series of major deals to sell computing power. Anthropic will pay the xAI division $1.25 billion per month, while Google will pay $920 million per month for access to cloud infrastructure.
SpaceX’s financial condition
In 2025, the company generated over $18 billion in revenue but posted a loss of $4.9 billion. SpaceX’s total losses since its inception have exceeded $37 billion.
The company’s main source of revenue is the Starlink satellite internet network. It accounts for the majority of revenue, although the company continues to invest in the development of the Starship rocket and the expansion of its xAI division.
According to techcrunch.com
