SpaceX soars 23% in Wall Street debut and makes Elon Musk the first trillionaire

Key Points:

• SpaceX's shares surged 23% in their Wall Street debut, reaching $166.90 per share and giving the company a market value of $2.18 trillion, making CEO Elon Musk the first-ever trillionaire with a net worth estimated at $1.1 trillion.
• The IPO raised $75 billion from the sale of 555.6 million shares at $135 each, surpassing Saudi Aramco's record and providing funds for SpaceX's ambitious plans, including satellite deployment, space data centers, and a Mars colony.
• Despite the enthusiasm, some analysts, such as Morningstar, consider the IPO significantly overvalued due to unproven technology and massive capital needs, estimating the company's true value at about $780 billion.
• Musk emphasized SpaceX's goal to make life multi-planetary and to offer space travel to the public, while the company faces substantial losses, having lost $8.7 billion between early 2025 and March 2026.
• Concerns have been raised by pension fund officials over IPO provisions like super voting shares and mandatory arbitration, which grant Musk significant control and limit shareholder legal recourse.