SpaceX debuts on Nasdaq in historic $75 billion IPO, valuing Musk as world’s first trillionaire
The aerospace firm opened trading at $150 per share, rising to $172, while coinciding with modest gains in US equities and falling oil prices amid heightened geopolitical tensions.
Wall Street bankers have successfully facilitated the initial public offering of SpaceX, a transaction described by the Financial Times as the largest in history. The deal required investors to accept a corporate strategy characterised as "science fiction," overlook significant financial losses, and grant full operational control to chief executive Elon Musk.
The offering was priced at $135 per share, raising $75 billion for the company. Upon opening trading on the Nasdaq on 11 June 2026, shares were valued at $150 each. This pricing established an approximate company valuation of $1.77 trillion, effectively making Musk the world’s first trillionaire on paper.
In early trading on the day of the debut, the stock price rose 27 per cent to reach $172. The strong performance coincided with modest gains across US equity markets and a drop in oil prices, occurring against a backdrop of broader market movements and geopolitical uncertainty.
The market debut took place amidst heightened tensions in the Middle East. On Monday night, 10 June 2026, a US Army AH-64 Apache helicopter was reportedly shot down over the Strait of Hormuz. The following day, President Donald Trump issued a statement accusing Iran of the incident and vowing a response.
Prior to the IPO, President Trump had met with Chinese President Xi Jinping in Beijing. Discussions between the two leaders covered trade, artificial intelligence, and security concerns regarding the Strait of Hormuz. The convergence of the SpaceX listing and these geopolitical developments marked a significant moment for global markets in June 2026.
