SpaceX sold all 555.55 million shares in its initial public offering at $135 each, raising approximately $75 billion and putting a $1.77 trillion value on the company. Trading on the Nasdaq was set to begin Friday. The raise is the biggest IPO on record, well past the $29.4 billion Saudi Aramco brought in during 2019.
Founded by Elon Musk in 2002, SpaceX builds the Falcon 9 and Falcon Heavy reusable rockets and the Dragon spacecraft, and runs the Starlink satellite network and the Starship launch program. It also owns the X social media platform.
Musk’s stake
Most of Musk’s fortune is tied up in the company. At the IPO price, his holding is worth around $866 billion. Bloomberg Billionaires Index calculations show his net worth rising by about $275 billion to roughly $970 billion, which leaves him just short of becoming the first trillionaire. Some estimates say it could pass $1.1 trillion once markets fully price his stakes in SpaceX, Tesla and his other ventures.
After the offering he is expected to hold roughly 42% of SpaceX. A one-year lock-up bars him from selling.
The prospectus lists about 849.49 million Class A shares and 5.57 billion Class B shares in his name, around 6.42 billion shares in all. Each Class B share carries 10 votes, against one for Class A, and that gives Musk about 85.1% of the voting power.
Other holders
Antonio Gracias, a SpaceX director and founder of Valor Equity Partners, is the second-largest shareholder named in the filing. Through affiliated entities he owns 503.41 million Class A shares, worth approximately $67.96 billion at the IPO price.
Other insiders hold far smaller positions:
- Board member Luke Nosek: 32.99 million Class A shares, about $4.45 billion
- President and COO Gwynne Shotwell: 12.57 million shares across both classes, about $1.7 billion
- CFO Bret Johnsen: 9.58 million Class A shares, around $1.29 billion
- Director Ira Ehrenpreis: about $185 million
- Board member Randy Glein: roughly $37.5 million
Outlook Business, which reported the figures, converted the valuation to about ₹168.15 lakh crore and the raise to around ₹7.13 lakh crore. It framed the listing as a test of appetite for high-growth technology and artificial intelligence companies, and as a measure of confidence in Musk’s leadership.
