SPCX IPO: Spacex Shares Soar 11% In Nasdaq Debut - Elon Musk Is Officially The World's First Trillionaire

Shares of Space Exploration Technologies Corp. (SPCX) gained nearly 11% on their Nasdaq debut on Friday, catapulting SpaceX into the top ten firms in terms of the world's most valuable companies by market capitalization.

SpaceX's Nasdaq debut has also officially made CEO Elon Musk the world's first trillionaire.

SpaceX shares debuted on the Nasdaq at $150, and traded nearly 14% higher at $154 per share as of this writing, compared to its offer price of $135 apiece.

SpaceX Raised $75B Through IPO

SpaceX raised $75 billion through the IPO, issuing 555.55 million shares at $135 apiece. This makes it the world's biggest IPO by a wide margin, eclipsing the nearly $29 billion raised by Saudi Aramco in 2019.

Musk earlier said during an interaction with JPMorgan earlier this week that the company has been cash-flow positive since 2015. He said that he took SpaceX public to raise capital for its next major growth phase as it plans to place a million satellites in orbit, up from about 10,000 currently.

SpaceX also aims to build AI data centers in space, with Musk saying there is ample room to do so. "We've got a pretty good idea of how to operate, just really large constellations, and do it safely now, right? We are the only operator that has any experience of that scale,” he said.

Musk Gave SpaceX Less Than A 10% Chance Of Succeeding

Musk said that he gave SpaceX less than a 10% chance of succeeding when he founded the company in 2002. He added that he still had to give it a shot because of his vision of making humanity a spacefaring civilization.

“While the other aerospace companies build good rockets and everything, they were simply not pursuing the technology that's necessary to make life multi-planetary... to make Star Trek... the exciting science-fiction futures that we've read about, real. That's what SpaceX is all about... It's to take the fiction out of science fiction,” he added.

Musk added that SpaceX wants to be able to take anyone who wants to go to the moon, Mars, or even beyond the solar system at some point, not just a few astronauts.

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