SpaceX is now a public company, making Elon Musk the world's first trillionaire

SpaceX debuted on the Nasdaq today at $150, after pricing 555.6 million shares at $135 to raise $75 billion in the biggest-ever IPO. This dwarfs the $29 billion that Saudi Aramco raised during its record listing in 2019. SpaceX closed today at $160.95, up 19% and giving it a $2.1 trillion market cap. This means SpaceX added almost a trillion dollars on top of its previous $1.25 trillion valuation, which it only hit in February when it acquired xAI.

A $2.1 trillion market cap also makes SpaceX the seventh biggest company in the world, behind only Nvidia, Alphabet, Apple, Microsoft, Amazon, and TSMC. SpaceX has a larger market cap than Broadcom, Saudi Aramco, Tesla, Meta, Samsung, and all the rest. If SpaceX and Tesla were to merge, as many expect is inevitable, the combined company would be the fourth biggest company in the world.

SpaceX is expected to generate about $20 billion in revenue in 2026, with the majority coming from its rocket launch program and Starlink satellites. Starlink is the money-maker, while xAI is burning tens of billions and generating less than $1 billion in revenue. The AI story is just beginning for SpaceX though. The company plans to use some of that $75 billion to launch AI data centers in space.

As for the stock price today, engineering a pop on day one is what Wall Street bankers do best. What the world wants to know is where SpaceX will be trading next month, next year, and next decade.

This post was originally published as a video on LinkedIn and YouTube.