Morning Edition · Saturday, June 13, 2026
SpaceX Raises 75 Billion Dollars in the Largest Public Listing on Record
Elon Musk's rocket company priced shares at 135 dollars, reached a valuation near 1.75 trillion dollars, and rose 19 percent on its first trading day.
SpaceX has completed the biggest initial public offering on record, raising 75 billion dollars by selling about 555.6 million shares at 135 dollars each, according to NPR. The listing valued the company at roughly 1.75 trillion dollars, placing it among the ten largest listed companies in the world before trading even began.
On its first session on the Nasdaq under the ticker SPCX, the stock rose 19 percent to close at 160.95 dollars, lifting the company's market value above 2 trillion dollars. The Financial Times reported that bankers persuaded investors to accept steep operating losses, a long-horizon business built on Starship and the Starlink satellite network, and a structure that leaves full control with Musk through supervoting shares.
The sale is a study in how cheap capital and a powerful narrative can override present-day fundamentals. Investors are paying today for cash flows that depend on technologies still being proven, a wager that looks rational when money is abundant and risk appetite is high. The deal also concentrates an extraordinary sum in a single founder-controlled firm at a moment when public-market enthusiasm for space and artificial intelligence is intense.
What this means
A record listing of a deeply unprofitable, founder-controlled company is a marker of how far investors will reach when liquidity is plentiful. From a sound-money perspective, the willingness to fund distant promises over present earnings is exactly the behavior that easy credit encourages, and it tends to reverse sharply when financing conditions tighten. The size of the raise also pulls capital and attention toward one name at the expense of the broader market.
What to watch
- Whether SPCX holds its first-day gains once the initial demand fades
- How the listing affects appetite for the next wave of large technology and space offerings
- Starlink revenue disclosures that would test the valuation
Observations to monitor, not financial advice.
Synthesized from: Financial Times · NPR
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