SpaceX has made its highly anticipated public debut, with shares opening at $150 on the Nasdaq exchange. The company's initial public offering (IPO) is the largest in history, with 555.6 million shares priced at $135 each to raise $75 billion. As of 1:38 pm ET, SpaceX shares were trading at $170.82, up more than 26% from the opening price.
The IPO has made Elon Musk the world's first trillionaire, with his paper wealth exceeding $1 trillion. Musk will maintain significant control over the company, with over 50% of the voting power. The IPO has also created a significant number of new millionaires, with 4,400 SpaceX employees potentially benefiting from the company's public debut.
The SpaceX IPO has been closely watched by investors and the public, with many seeking to understand the company's financials and future prospects. The company's S-1 filing revealed significant losses, with over $37 billion in losses since its inception. However, the company's Starlink satellite network and xAI division are expected to drive future growth.
