r/stocks
SpaceX lifts off with record-breaking $1.8trn floatation
SpaceX raises $75B in record IPO, valuing it at $1.77T, surpassing profitable giants like Berkshire Hathaway and Meta.
Elon Musk’s SpaceX has raised $75 billion in a record-breaking initial public offering which values the satellite, rockets and artificial intelligence company at $1.77 trillion.
The biggest IPO in history will see SpaceX rank seventh among America’s largest listed firms when its shares begin trading on the Nasdaq on Friday.
It will also put Musk, 54, founder of SpaceX, on course to become the world’s first trillionaire.
SpaceX priced 555.6 million shares at $135 each, according to a statement on the company’s website on Thursday. It raised $75 billion, far surpassing the size of previous record holder Saudi Aramco’s $29.4 billion listing in 2019.
SpaceX, which is loss-making, is set to start trading on Friday at a valuation higher than highly profitable financial and tech behemoths, including Berkshire Hathaway, JP Morgan Chase and Meta Platforms