SpaceX IPO raises $85.7 billion, exceeding target by $10 billion
SpaceX completed the largest initial public offering in history on June 12th, raising approximately 85.7 billion dollars after underwriters exercised their option to sell additional shares. The company initially offered 555.6 million shares at 135 dollars each, bringing in 75 billion dollars. Strong investor demand led underwriters to sell an additional 83.3 million shares, adding roughly 10 billion more. The stock opened at 150 dollars and closed at 161 dollars on the first day, up 19 percent from the offering price, valuing the company at approximately 2.1 trillion dollars. The offering makes SpaceX the sixth largest publicly traded company in the United States. The company plans to use proceeds for expansion of launch infrastructure, Starlink satellite constellation development, and artificial intelligence initiatives. Starlink, the profitable satellite internet division, generated 11.4 billion dollars in revenue last year and remains central to SpaceX's financial performance.
Key facts
- SpaceX raised 85.7 billion dollars total, up from initial 75 billion target, after underwriters exercised greenshoe option
- Stock priced at 135 dollars per share, opened at 150 dollars, closed at 161.11 dollars, up 19 percent on first day
- Final valuation approximately 2.1 trillion dollars, making SpaceX sixth-largest US public company by market cap
- Starlink satellite internet service generated 11.4 billion dollars in 2025, accounting for 61 percent of total revenue
- Approximately 4,400 SpaceX employees could become millionaires from the IPO
- Company reported net loss of 4.28 billion dollars in Q1 2026 despite 4.69 billion dollars in revenue
How different outlets framed it
Left-leaning coverage: Progressive lawmakers highlighted that Musk's rise to trillionaire status exemplifies growing wealth inequality in America, with some calling for wealth taxes and higher taxation on the ultra-rich. Critics noted that SpaceX benefited from government subsidies and contracts, arguing taxpayers funded much of the company's success while Musk captured the majority of the gains.
Right-leaning coverage: Conservative commentary celebrated Musk's entrepreneurial achievement and SpaceX's role in American technological leadership, particularly in space exploration and commercial rocketry. Supporters emphasized the company's revolutionary reusable rocket technology and its dominance in the global launch market as evidence of American innovation and market success.
Limits of this briefing
Coverage reflects tension between SpaceX's genuine technical achievements and massive capital raise versus legitimate questions about valuation, with significant analyst disagreement on fair value. Limited visibility on execution risks for ambitious projects like space-based data centers.
Sources
- Benzinga: SpaceX's Mega IPO Just Made Elon Musk A Trillionaire— And Lawmakers Are Now Pushing 'Reason #1,000,000,000,000' To Tax the Ultra Rich Left
- Fox News Opinion: Elon Musk's trillionaire rise is a stinging rebuke to socialism Right
- CNBC: SpaceX IPO takeaways: SPCX closes at $161, jumping 19% after record debut Centre
- Morningstar: Why We Think the SpaceX IPO Is Overvalued Centre
- Scientific American: SpaceX's historic IPO ignites the new space race Centre