SpaceX IPO surges 19% on debut, making Musk world's first trillionaire
Original: SpaceX IPO closes up 19% and delivers the world’s first trillionaire
Why This Matters
Historic IPO creates world's first trillionaire and marks largest VC windfall in history
SpaceX went public on Nasdaq, closing at $160.95, up 19% from $135 IPO price. Stock reached $176 intraday, valuing company at $2.3 trillion. Elon Musk becomes world's first trillionaire, with 4,400 employees becoming millionaires.
SpaceX made its public debut on Nasdaq, opening at $150 and closing at $160.95, a 19% gain from its $135 IPO price. The stock hit $176 during midday trading, pushing market cap to nearly $2.3 trillion. The IPO was oversubscribed 4x according to Bloomberg, with only 4% of shares available for public trading. Robinhood reported record-breaking trading volume. The debut created massive venture capital returns: Founders Fund's 3% stake worth over $50 billion, Andreessen Horowitz over $10 billion, and Sequoia over $20 billion. Around 4,400 current and former SpaceX employees became millionaires, while 400 became centimillionaires. The company successfully lobbied indexes like Nasdaq 100 to expedite inclusion, increasing institutional demand.