SpaceX IPO: Live updates on everything you need to know
TechCrunch • • general
Key Points:
- SpaceX launched the largest IPO in history by pricing 555.6 million shares at $135 each, raising $75 billion and potentially making Elon Musk the world's first trillionaire.
- The company's shares debuted on Nasdaq at $150, surged up to 30% during midday trading, and closed at $160.95, with record-breaking trading volume reported by platforms like Robinhood.
- Elon Musk retains dominant control with over 85% voting power, ensuring significant influence over SpaceX's future despite it being publicly traded, while around 4,400 employees stand to become millionaires.
- Major financial institutions Goldman Sachs and Morgan Stanley earned approximately $500 million in fees from the IPO, marking them as big winners alongside Musk and his inner circle.
- The IPO filing revealed SpaceX's substantial losses totaling over $37 billion since inception, heavy investments in Starlink and AI ventures, and potential future dilution that has sparked merger rumors with Tesla.