Space Exploration Technologies Corp. (SpaceX) officially began trading on the Nasdaq on Friday, 12 June after completing a record-breaking $75 billion initial public offering (IPO), marking what analysts are calling the largest public listing in history. The debut values SpaceX at approximately $1.77 trillion and has pushed founder Elon Musk's net worth to an estimated $982.6 billion, placing him within striking distance of becoming the world's first trillionaire.

Historic Market Debut

SpaceX shares were priced at $135 apiece ahead of the opening bell, with the company trading under the ticker symbol 'SPCX'. Executives rang the opening bell at the Nasdaq stock exchange, while simultaneous celebrations were held at the company's headquarters, where Musk and employees watched the milestone unfold. The $75 billion IPO surpasses all previous public offerings on record, representing a watershed moment for global capital markets.

Musk's Wealth and Ownership Stake

According to regulatory filings, Musk beneficially owns 849.49 million Class A shares and 5.57 billion Class B shares, representing a combined holding of approximately 6.42 billion shares. Through SpaceX's dual-class share structure, he retains roughly 85 per cent of the company's voting power, with Class B shares carrying ten votes each compared to one vote per Class A share. According to estimates from Forbes, even a modest post-listing gain in SpaceX shares could push Musk past the $1 trillion net worth threshold.

What SpaceX Brings to Public Markets

Founded in 2002, SpaceX has fundamentally reshaped the global space industry through its reusable Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft, and the ambitious Starship programme targeting deep-space exploration. The company's Starlink satellite internet division has emerged as a significant revenue driver, attracting substantial investor interest ahead of the listing. The combination of defence contracts, commercial launch business, and Starlink's subscriber growth formed the core investment thesis presented to institutional investors.

Broader Market Impact

Market participants view the listing as a signal that the IPO window for large private technology companies has reopened in earnest. Analysts expect the successful flotation to encourage other high-value private firms to pursue public offerings in the coming months. Notably, SpaceX's $1.77 trillion valuation at listing places it among the most valuable publicly traded companies in the world from day one — a feat few IPOs have achieved. This comes amid a broader recovery in global equity markets following a period of subdued new listings driven by interest rate uncertainty.

What Comes Next

Attention will now turn to SpaceX's first earnings disclosures as a public company, which will offer investors their clearest look yet at Starlink's profitability and the pace of Starship's commercialisation. Whether Musk formally crosses the trillionaire mark will depend on where SPCX shares settle in the days following the debut.