SpaceX made a historic market debut on the Nasdaq on June 12, 2026, with shares opening at $150, representing an 11% increase over the IPO price of $135 per share, and valuing the company at approximately $1.75 trillion according to Nikkei Asia [1], $1.8 trillion according to Fox Business [2], and over $2 trillion according to CNBC World [4]. The stock surged as much as 17% in midday trading, reaching $168.75 before settling around $158 per share [2][4]. The IPO raised a record $75 billion, surpassing the previous largest IPO, Saudi Aramco's $29 billion in 2019 [2].
Investor demand was intense, with more than $250 billion in orders reported by Reuters and over $70 billion in retail investor requests according to Bloomberg [2]. However, there are conflicting reports regarding retail allocation: Fox Business states at least 20% of the offering was allocated to retail investors [2], while CNBC World reports the allocation was smaller than expected [4]. The IPO's dual-class share structure leaves control firmly with Elon Musk, who is expected to retain roughly 85% of the company's voting power [2].
The debut officially made Elon Musk the world's first trillionaire, with his SpaceX stake valued between $690 billion [2] and $766 billion [3], and his total net worth, including Tesla, estimated at $1.05 trillion [3] to $1.1 trillion [2][3]. Thousands of SpaceX employees and executives also became millionaires or billionaires through stock compensation [2][3][4].
Market reactions were significant: shares of other space industry stocks such as Redwire and RocketLab fell more than 13% and 12%, respectively, as investors shifted focus to SpaceX [4]. Tesla shares dropped more than 2% in intraday trading [4]. Analysts highlighted the impressive initial performance but cautioned that sustaining the valuation will depend on SpaceX's ability to expand, particularly in Asia, where regulatory and competitive challenges remain [1]. Jay Woods of Freedom Capital Markets noted the need to observe whether SpaceX can maintain its opening price beyond the initial euphoria [4].
Looking ahead, SpaceX's IPO is expected to trigger a wave of high-profile tech listings, with Anthropic and OpenAI having confidentially filed prospectuses recently [4]. The company's future growth is seen as hinging on the success of its Starlink satellite internet business, which generated the majority of SpaceX's $18.67 billion in revenue last year [2], and its ability to penetrate the Asian market [1].
CONCLUSION
SpaceX's record-breaking IPO has redefined market expectations, propelling the company to a valuation exceeding $1.75 trillion and making Elon Musk the world's first trillionaire. While investor enthusiasm is high, analysts caution that future growth—especially in Asia—will be critical to justifying the lofty valuation. The IPO's success is expected to spur further high-profile tech listings in the near future.