SpaceX officially began trading on the Nasdaq this Friday, marking the largest initial public offering in financial history. The stock, ticker symbol SPCX, opened at $150, surging more than 10% above its $135 IPO price.
The company priced 555.6 million Class A shares, targeting a capital raise of $75 billion. This instantly eclipsed the previous record held by Saudi Aramco. The listing values SpaceX at approximately $1.78 trillion.
Only about 3% to 4% of shares are currently available for public trading. However, 20% of the offering was allocated to retail investors, including a dedicated portion for European buyers. Options contracts on SPCX are scheduled to begin trading next week.
This milestone brings Elon Musk significantly closer to becoming the world's first trillionaire. His estimated 42% stake is now valued at roughly $690 billion, adding nearly $190 billion to his net worth. Thousands of employees also stand to become millionaires through their equity holdings.
SpaceX is expected to be fast-tracked into the Nasdaq-100 index within a month, thanks to new rules that bypass the typical year-long waiting period. Analysts estimate index-tracking funds will purchase at least $7 billion in shares upon inclusion.
While eligible for the Russell US Equity Indexes and FTSE Global Equity Index Series, SpaceX will not join the S&P 500 before mid-2027 due to stricter profitability and seasoning requirements.
This article does not constitute financial advice. }