NEW YORK — SpaceX made a historic entrance into public markets on Friday, becoming one of the most valuable companies in the United States after its shares surged during their first day of trading and helped propel founder Elon Musk’s estimated fortune beyond the $1 trillion mark.
Shares of the aerospace company climbed more than 19% after trading began on Nasdaq, closing just under $161 after opening around $150. The stock performance gave SpaceX a market valuation of approximately $2.1 trillion, placing it among the largest publicly traded companies in the country and surpassing the market value of Tesla, another company led by Musk.
According to Forbes estimates cited in the source material, Musk’s combined holdings in SpaceX and Tesla lifted his personal net worth to roughly $1.1 trillion, making him the first person to cross the trillion-dollar threshold.
Record-Breaking Public Offering
The company’s public debut generated strong demand from both institutional and retail investors. Shares were sold at $135 during the initial offering, and SpaceX reportedly raised $75 billion, surpassing the previous IPO fundraising record set by Saudi Aramco in 2019.
The strong opening reflected investor enthusiasm for SpaceX’s long-term growth strategy despite the company continuing to report significant losses.
Jay Ritter, a professor at the University of Florida’s Warrington College of Business, noted that the average U.S. company going public between 1980 and 2025 recorded a first-day gain of about 7%, making SpaceX’s debut substantially stronger than historical norms.
Funding Ambitious Expansion Plans
Speaking during Nasdaq’s opening ceremony from SpaceX’s Starbase facility in South Texas, Musk reiterated the company’s goal of expanding human presence beyond Earth.
He said SpaceX requires additional capital to support major projects that include expanding satellite infrastructure, developing orbital data centers, advancing artificial intelligence initiatives, and ultimately establishing a permanent settlement on Mars.
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Musk described the company’s long-term vision as making humanity a multiplanetary species, emphasizing future commercial travel opportunities beyond Earth.
Investors Focus on Future Growth
The company’s market debut comes as SpaceX pursues several capital-intensive initiatives. In addition to its satellite operations and launch business, the company has outlined plans involving large-scale orbital computing facilities and expanded artificial intelligence capabilities.
However, regulatory filings referenced in the source material indicate that SpaceX lost approximately $8.7 billion between the beginning of 2025 and March 31, 2026.
Despite those losses, many investors appear willing to back the company’s long-term ambitions.
Yordys Coro, an IT support contractor in Miami, told reporters he planned to hold his investment after seeing significant gains during the first trading session, citing confidence in Musk’s leadership and track record.
Concerns Over Valuation and Governance
Not all market observers share the bullish outlook.
Research firm Morningstar argued that SpaceX’s public valuation exceeds what current fundamentals support. Analysts at the firm estimated the company’s value at roughly $780 billion, significantly below its IPO valuation.
The firm pointed to several operational and technological challenges, including protecting orbital data centers from radiation exposure and competing against established artificial intelligence developers such as Anthropic and OpenAI.
Corporate governance has also attracted scrutiny. Musk reportedly controls a special class of shares that grants him significant voting authority despite owning a smaller percentage of the company’s overall equity.
Investor advocacy groups and pension fund representatives have raised concerns about governance provisions included in the company’s public offering documents, including shareholder arbitration requirements and Musk’s extensive control over company decisions.
Musk’s Wealth-Building Journey
Musk’s rise to become the world’s first trillionaire follows decades of entrepreneurial success. He initially built wealth through the sale of internet software company Zip2 and online payments platform PayPal before directing much of those proceeds into SpaceX and Tesla.
Both companies were once viewed as highly risky ventures. SpaceX transformed the commercial space industry by developing reusable rocket technology, while Tesla played a major role in accelerating mainstream adoption of electric vehicles.
Tesla’s long-term stock performance has generated enormous wealth for shareholders since its 2010 public offering, helping cement Musk’s reputation as one of the most influential business figures of the modern era.
Looking Ahead
SpaceX’s market debut may be the first in a series of major public offerings from leading artificial intelligence and technology firms. The source material notes that Anthropic and OpenAI are also expected to pursue public listings in the future.
For now, investors are weighing whether SpaceX’s ambitious plans for space infrastructure, artificial intelligence, and interplanetary expansion can eventually justify one of the largest valuations ever awarded to a newly public company.
While enthusiasm surrounding the company remains strong, questions about profitability, execution risks, and governance are likely to remain central issues as SpaceX begins life as a publicly traded enterprise.
Tags: SpaceX, Elon Musk, Nasdaq, IPO, Stocks, Capital Markets, Tesla, Artificial Intelligence, Space Industry, Wall Street
