SpaceX raises $75 billion in Nasdaq IPO at $135 per share; 3× oversubscribed, 20% first-day gain

SpaceX sold 555,555,555 Class A common shares at $135 each on Friday, raising $75 billion in its initial public offering on the Nasdaq stock exchange. 75 trillion and pushing Elon Musk’s net worth past $1 trillion. Trading opened at a market capitalization of $8 trillion based on the $135 price.

Investor orders exceeded three times the number of shares offered. Elon Musk held a 42 percent stake before the offering. After the IPO he owns roughly 40 percent of total equity but controls more than 84 percent of voting power through Class A and Class B shares.

His pre-IPO net worth stood at roughly $696 billion. His SpaceX stake was valued at around $690 billion at the IPO price, while his Tesla stake accounts for around $279 billion of his net worth. SpaceX acquired xAI, which itself acquired the social media platform X in 2025.

The company generates revenue through its Starlink network and operates in space transport, satellite communications, data processing and defence applications. SpaceX is the first of three AI-related companies expected to go public in 2026. The company will not be required to seat independent directors on its board after the listing.

Morningstar assessed SpaceX’s value at $63 per share before the IPO. Michael Field, the firm’s chief equity strategist, advised investors to avoid the IPO and await a more attractive entry point. Dan Coatsworth, head of markets at AJ Bell, described the flotation as potentially the biggest stock offer in history.

The share price represented 92 times SpaceX’s revenues from the previous year.