SpaceX completed the largest stock-market debut in history on June 12, raising $75 billion in its initial public offering. Shares jumped nearly one-fifth on the first day, giving the company a market capitalization of approximately $2.2 trillion, according to Bloomberg. The milestone turned SpaceX founder Elon Musk into the world's first trillionaire.
The IPO arrived earlier than many expected. Bloomberg reports that Musk accelerated plans for the public listing partly because of the rapid growth of the artificial intelligence boom, rather than waiting for regular Mars flights to materialize. The move tests the stock market's ability to absorb such a massive offering.
SpaceX raised $75 billion in the IPO, surpassing all previous records for a company's first public sale of shares. The Financial Times and Bloomberg both confirmed the $75 billion figure, while FT added that the stock gained nearly a fifth on debut. No other company has come close to this fundraising scale at listing.
The massive influx of shares could test liquidity across broader markets. BeInCrypto noted that S&P 500 charts suggest a retest of the 7,000 level before a resumption of the uptrend, though the impact on indices remains uncertain. Investors are watching whether SpaceX's success will inspire other high-profile private companies to pursue public listings sooner.
Some analysts caution that SpaceX's enormous valuation may be difficult to justify over the long term, especially given the cyclical nature of government contracts and the yet-unproven economics of Mars colonization. The firm's reliance on Elon Musk's leadership also carries key-person risk.