SpaceX will begin trading on the NASDAQ stock exchange tomorrow morning. It’s already set to be the largest IPO in history and is currently the top news story at the NY Times, “SpaceX Sets Milestone With World’s Largest I.P.O., Furthering Musk’s Power.”
SpaceX, Elon Musk’s rocket and satellite maker, officially finalized its initial public offering price to become the world’s largest stock market debut, in a testament to the tech mogul’s influence and people’s belief in his business vision.
On Thursday, SpaceX confirmed its I.P.O. price was set at $135 a share and that it would sell more than 555 million shares, according to a company statement. That means SpaceX would raise around $75 billion from its offering, putting its valuation at $1.77 trillion.
With those numbers, SpaceX would shatter an I.P.O. record previously set by Saudi Aramco. Saudi Arabia’s state-owned oil company was valued at $1.7 trillion and raised more than $29 billion when it went public in 2019. SpaceX will begin trading publicly on Friday under the ticker symbol SPCX.
The IPO is certainly newsworthy but I think it’s the latter half of the headline that is the reason it’s getting so much attention.
At $135 a share, the SpaceX stake controlled by Mr. Musk would be worth more than $860 billion. (He cannot sell some of the SpaceX shares he controls until the company hits various operational milestones, according to the firm’s filings.)
And a slight increase in the company’s share price in its first days of trading — perhaps as soon as Friday — could turn Mr. Musk, 54, into the world’s first trillionaire.
The Washington Post has a similar story which puts Musk’s potential wealth in the headline, “Elon Musk is the world’s first trillionaire (on paper) thanks to the SpaceX IPO.” Just listen to this opening:
Elon Musk’s SpaceX, a rocket, satellite internet and artificial intelligence company that’s bleeding cash and has puny sales compared to established technology giants, announced Thursday the price for its initial public offering of $135 per share. The step sets up a blockbuster IPO that ranks as the largest in history, at about $75 billion…
According to SpaceX’s disclosures, Musk holds roughly half of the company’s stock, including shares that he might earn far in the future tied to accomplishments such as shooting computer data centers into space and creating a human settlement on Mars. Those Musk shares in SpaceX are worth about $867 billion at Thursday’s IPO price.
Combined with the chunk of the automaker Tesla that also belongs to Musk, his stock in the two companies is valued at more than $1.1 trillion combined, according to Washington Post calculations from SpaceX and Tesla securities filings.
You can probably imagine how progressives are feeling about all of this. Actually you don’t have to imagine as they are eager to tell you. From the NY Times’ comment section:
So, tomorrow we’ll coin new billionaires who work on sending rockets farther and farther into space while there are still people starving here on Earth. I wish our politics, which is supposed to represent the interests of the people in a democracy, would aim to solve our current problems here on Earth: economic injustice, climate change, peace.
One more:
Space X is the best there is at wildlife habitat destruction. Maybe with some of the immense wealth they realize this week they can pay for all the environmental damage they wreak.
As ever, the Post’s comment section is worse:
A trillionaire so emotionally and ethically bankrupt that some of his children want nothing to do with him.
One more:
Why can’t bad things happen to bad people?
In New York, progressive clowns inflated a 40ft balloon effigy of Musk to show their displeasure. You know the left is really angry when they bring out the balloons.
😖 A giant inflatable Elon Musk popped up in Times Square as part of a protest against Musk’s Grok AI. pic.twitter.com/BdLOB900iC
— TMZ (@TMZ) June 11, 2026
They so mad! Yesterday, Elizabeth Warren demanded that the entire IPO be put on hold.
Sen. Elizabeth Warren, D-Mass., called for the Securities and Exchange Commission to delay SpaceX’s upcoming initial public offering, citing concerns about the rocket maker’s valuation and corporate governance in a letter shared with CNBC.
“Given the unprecedented threats to investor protection and market integrity posed by the biggest IPO in history, you must delay any eventual acceleration of the registration statement’s effectiveness accordingly,” Warren wrote to the market regulator on Tuesday…
“For investors who pick and choose their specific investments, they at least are able to avoid investing in companies that engage in risky or unfair practices,” Warren wrote. “But the SpaceX IPO creates a new concern: that major stock market indexes are being rigged in a way that would force millions of investors in passive index funds – a generally lower cost investment option that can be attractive to retail investors – to invest in SpaceX and face exposure to SpaceX’s significant risks with no choice in the matter.”
That didn’t happen obviously, but she tried.
Word that Musk is going to be the world’s first trillionaire is making its way around X but, curiously, many of the people mentioning it this afternoon appear to be congratulating or defending him. I suspect that tomorrow the real work of demagoguery will being and we’ll start seeing thousands of voices echoing whatever Bernie Sanders has to say about it. Tonight is the calm before the storm.
As for Musk, I’m sure he’ll be chuckling about their outrage all the way to the bank. Here’s hoping SpaceX continues to advance and put America in the driver’s seat of space exploration and private capitalization.
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