Elon Musk Hits Trillionaire Status as SpaceX (SPCX) Debuts on Wall Street
SpaceX’s IPO on Thursday broke Saudi Aramco’s record by becoming the largest in history as the company raised $75 billion. Shares were expected to start trading today at $135, but they actually opened at $150 under the SPCX ticker.
More volatility ensued in the initial trading minutes, with the newly listed asset going toward $170, where it was stopped, and now sits below $160.
Nevertheless, SpaceX quickly entered the top 10 global assets by market capitalization of over $2 trillion. It sits at the 9th spot as of press time, above Broadcom’s $1.8 trillion and below TSMC’s $2.2 trillion.
The company’s public listing and official valuation into the trillions of dollars has skyrocketed Elon Musk’s paper fortune, as the Tesla CEO has also become the world’s first trillionaire.
BREAKING: Elon Musk officially becomes the world’s first trillionaire as SpaceX, $SPCX, stock begins trading. pic.twitter.com/oSmBxDYuIz
— The Kobeissi Letter (@KobeissiLetter) June 12, 2026
The spaceflight, telecommunications, and AI company, founded in 2002, sold 556 million shares yesterday at an initial price of $135 per share. Individual investors were able to request shares from five brokerages: Charles Schwab, Fidelity, SoFi, Morgan Stanley’s E*Trade, and Robinhood.
“All eligible clients who completed the affirmation process received at least a portion of their requested order,” a Charles Schwab spokesperson said to CNN.
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