SpaceX completed the largest IPO in history, raising $75 billion at $135 per share and achieving a valuation of approximately $1.77 trillion. The stock, trading as SPCX on the Nasdaq, propelled Elon Musk’s net worth to roughly $970 billion, with trillionaire status now a real possibility. Demand was more than double the offering size, with significant allocations to retail investors.
SpaceX began trading on the Nasdaq under the ticker SPCX on June 12, 2026. The company’s initial public offering priced at $135 per share, raising $75 billion in the largest public offering ever recorded.
This IPO values SpaceX at approximately $1.77 trillion, placing it among the world’s most valuable public companies. Elon Musk’s net worth increased to roughly $970 billion following the pricing.
The order book for the offering was more than two times oversubscribed, with around $150 billion in orders. Retail investors received an unusually large allocation, accounting for roughly 30% of the retail portion.
Analyst outlooks on the stock vary significantly following the debut. Oppenheimer set a price target of $190 per share, while ARK Invest projected the company’s valuation could reach $3.1 trillion by 2030.
In contrast, Morningstar pegged fair value at around $780 billion. It also flagged the xAI acquisition as a “material threat of value destruction” and called the company’s “economic moat indeterminate.”
Despite going public, Elon Musk retains about 40% of total equity and more than 84% of voting power through a dual-class share structure. A Harvard Law School analysis noted this creates real risk for investors who will have minimal say over major decisions.
SpaceX has already absorbed Musk’s AI startup xAI, which acquired the social media platform X in 2025. The company’s board is not required to include any independent directors.
The listing is seen as a test case for a wave of mega tech IPOs. Both Anthropic and OpenAI have filed paperwork to begin their own listing processes later in 2026.
Tom Mueller, SpaceX’s first employee and founder of Impulse Space, reflected on the journey. “It’s unbelievable to see what the company has become. It’s just been an incredible ride,” he stated.
