SpaceX shares opened at $150 after pricing 555.6 million shares, lifting Elon Musk’s net worth to a record $1 trillion on paper.
SpaceX completed the largest initial public offering in history, pricing 555.6 million shares at $135 each. The stock opened at $150 on Nasdaq under ticker SPCX, rising 26.48% to $170.75 by midday trading.
The IPO surpassed prior records, with demand driving the opening price above the offering level. Analysts noted typical volatility in high-profile debuts, citing potential pullbacks after initial gains.
The surge boosted Elon Musk’s net worth to over $1 trillion, while approximately 4,400 employees gained millionaire status, with 400 expected to earn $100 million or more.