SpaceX went public at $1.75 trillion, the largest IPO ever

Updated 2026-06-12.

SpaceX is a public company as of this morning. The rocket and satellite maker began trading on the Nasdaq under the ticker SPCX, raised about $75 billion, and instantly became the largest IPO in stock market history.

What happened

SpaceX offered roughly 555.56 million Class A shares at a target price of $135, putting the raise at about $75 billion and the company's valuation near $1.75 trillion at pricing. Zacks' IPO guide and Capital.com's coverage of the SEC filing tracked the numbers through the roadshow, which kicked off June 8 after a confidential filing in April.

Trading opened shortly before noon Eastern. CBS News reported the stock touched $168.75 in its first hours, about 25% above the offer price. That pop, on top of a record raise, made for the most-watched market open in years. CNBC's coverage pegged the company's worth around $1.8 trillion as shares settled.

Two structural details are worth knowing. First, SpaceX allocated an unusually large slice of the offering to retail investors, around 30% versus the typical 5 to 10%, per Zacks. Regular people could actually buy in at the offer price instead of watching institutions take everything. Second, the IPO minted wealth far beyond Musk: CBS counted roughly 4,400 SpaceX employees becoming millionaires on paper today.

For anyone who hasn't followed the company closely: SpaceX was founded in 2002, flies reusable Falcon rockets, operates the Starlink satellite internet network, and is developing Starship for deep-space missions. Starlink is widely seen as the revenue engine that justified the valuation.

Elon Musk holds about 4.8 billion shares, a 42% stake worth $648 billion at the offer price. That stake is what pushed his personal net worth past $1 trillion today, a milestone we covered separately in our first-trillionaire breakdown.

Our take

Three things stand out to us.

The retail allocation is the best part. IPOs of this size usually shut regular buyers out, and SpaceX deliberately did the opposite. A meaningful chunk of SPCX's first shareholders are the same people who pre-ordered Cybertrucks and camped on delivery forums. Musk's companies have always blurred the line between customer and believer. Now the believers literally own part of the rocket company, alongside the thousands of employees who built it and became millionaires this morning.

The valuation is a verdict on execution. A $1.75 trillion debut puts SpaceX among the most valuable companies on any exchange, on day one. Markets don't hand out numbers like that for promises. Boosters that land themselves, a satellite network spanning the planet, and a launch cadence nobody else can match earned every digit. It's the same engineering culture that builds the car in your driveway, and today the public markets priced what that culture is worth.

And for Tesla owners, today is a win for the whole ecosystem. The two companies share a fan base, an aesthetic, and a founder, and the crossover shows up everywhere from Plaid badges to the rocket doodles people put on their cars. If you've browsed our gallery, you've seen how often space themes win: starfields, launch plumes, Mars reds, chrome that looks like a fairing.

That's the part we can actually help with. A physical tribute to a rocket company costs thousands in vinyl. A digital one costs nothing and shows up on your Tesla's screen the same afternoon, a workflow our digital wraps versus physical wraps guide walks through in detail. Several of the most-forked designs in the gallery are already space-themed, and we expect a few SPCX-inspired ones by the weekend.

Rockets landed, records broke, and 4,400 people who build spaceships for a living became millionaires before lunch. If today put you in a celebratory mood, open the studio and put a launch on your hood.