SpaceX officially began trading on the Nasdaq on Friday under the ticker SPCX, following a historic initial public offering that raised $75 billion and valued the company at approximately $1.78 trillion.
According to EuroNews, the listing is now the largest IPO ever recorded, surpassing the previous global record held by Saudi Aramco, which raised $29.4 billion in 2019.
Shares opened at $150, more than 10% above the IPO price of $135, and quickly climbed above $160 during the first minutes of trading.
Historic Listing Boosts Musk’s Fortune
Ahead of the market opening, Elon Musk said the company’s mission is to “take the fiction out of science fiction.”
SpaceX sold 555.6 million Class A shares at $135 each, with only around 3% to 4% of total shares currently available for public trading. The company initially planned to allocate up to 30% of the offering to retail investors, including European buyers, but ultimately reserved 20%.
The IPO is expected to significantly increase the wealth of thousands of SpaceX employees who hold company stock, while also making Musk the world’s first trillionaire on paper, according to market estimates.
Fast Track to Major Stock Indexes
Analysts expect SpaceX to be rapidly included in several major equity indexes, potentially driving additional demand for its shares.
Under Nasdaq’s newly introduced fast-entry rules, recently listed companies can qualify for the Nasdaq-100 within weeks rather than waiting up to a year.
SpaceX is already estimated to rank among the ten largest companies in the index, making it a strong candidate for inclusion.
Market experts estimate that funds tracking the Nasdaq-100 could be required to purchase at least $7 billion worth of SpaceX shares once the company is added to the index.
The company has also become eligible for inclusion in the Russell US Equity Indexes and the FTSE Global Equity Index Series under accelerated entry rules.
However, the S&P 500 will not fast-track the company. S&P Dow Jones Indices confirmed that SpaceX must still satisfy its 12-month seasoning requirement and profitability criteria, meaning it is unlikely to join the benchmark index before mid-2027.
Photo: Patrick T. Fallon/AFP via Getty Images
