SpaceX made history Friday with a spectacular stock market debut that pushed Elon Musk’s fortune past the trillion-dollar mark, making him the world’s first trillionaire and delivering the largest initial public offering ever completed. The blockbuster listing is also fueling expectations that other artificial intelligence giants could soon follow with record-breaking public offerings of their own.

The company’s shares began trading at $150, well above the $135 offering price, and ended the day at $161.11. By the closing bell, SpaceX was valued at more than $2 trillion, placing it ahead of many of America’s largest corporations and exceeding the combined market value of companies such as Walmart and General Motors.

The offering surpassed every previous IPO on record, overtaking the 2019 debut of Saudi Aramco, which entered public markets with a valuation of $1.7 trillion and raised more than $29 billion. SpaceX’s sale generated an unprecedented $75 billion, outpacing the combined proceeds of all U.S. IPOs conducted during the previous two years, according to Renaissance Capital.

The strong first-day performance also elevated Musk’s net worth to unprecedented levels. Already the richest person in the world, the 54-year-old entrepreneur saw his fortune soar beyond the trillion-dollar threshold, further expanding his financial power and global influence.

The IPO also produced enormous gains for investors close to Musk, including venture capital firms, private investment funds, and longtime associates. Thousands of employees who held equity in the company suddenly found themselves with millionaire status.

Musk spent the day at SpaceX’s Starbase facility in Texas, where he celebrated the milestone alongside employees, investors, family members, and friends. Reflecting on the company’s early days, he remarked, “It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public.” He added, “I gave SpaceX less than a 10 percent chance of succeeding at all.”

The successful launch onto public markets is expected to open the door for other massive offerings, particularly from artificial intelligence leaders OpenAI and Anthropic, both of which are reportedly approaching trillion-dollar valuations. If those companies follow through with public listings, 2026 could become one of the most remarkable years in Wall Street history.

Such developments would further cement the dominance of technology firms in the global economy, placing SpaceX, OpenAI, and Anthropic alongside established giants including Google, Microsoft, Amazon, Nvidia, Apple, Netflix, and Meta.

For SpaceX, the IPO marked the culmination of more than two decades of growth. Musk established the company in 2002 with the ambitious goal of enabling humanity to become a multiplanetary civilization, a vision many initially viewed as unrealistic.

Over the years, however, SpaceX transformed the aerospace industry through the development of reusable rocket technology and expanded its reach with Starlink, its satellite-based internet network. Earlier this year, the company also acquired Musk’s artificial intelligence venture, xAI, which controls the social media platform X, creating an even broader technology conglomerate.

Throughout much of its history, SpaceX also served as a financial cornerstone for Musk’s wider business empire. The company provided him with loans and financial flexibility that helped support other ventures. That influence was reinforced by Musk’s overwhelming control of shareholder voting power through supervoting shares and other corporate mechanisms, which gave him approximately 85 percent of the voting rights before the IPO.

As part of the offering, SpaceX sold more than 555 million shares, representing slightly more than 4 percent of the company’s outstanding stock. The company and its underwriting team actively sought participation from both institutional investors and individuals, with retail investors accounting for roughly 22.5 percent of the offering, according to people familiar with the transaction.

SpaceX also pushed for accelerated inclusion in major stock indexes, a move that could eventually require large index funds to purchase significant amounts of its shares.

Analysts expect the stock to remain volatile in the near term. With relatively few shares available for trading and intense investor demand, the stock could experience sharp swings as the market adjusts. Over time, however, additional shares may enter circulation and enthusiasm could moderate.

J.P. Morgan analysts noted this week that recent IPOs have gained an average of 32 percent on their first trading day, but on average have fallen 26 percent below their debut prices after one year.

Daniel Hanson, a portfolio manager at Neuberger Berman whose fund owns approximately $200 million in SpaceX stock, credited the company’s leadership team for the speed and effectiveness of the IPO process.

“It’s exciting to see the team recognized by the public for what they have accomplished since their founding 24 years ago,” he said.

Despite investor enthusiasm, questions remain about the company’s finances and valuation. SpaceX disclosed in its IPO filing that it lost more than $4.9 billion last year, compared with a profit of $791 million in 2024, largely due to increased spending on artificial intelligence initiatives. Revenue, however, climbed 33 percent to $18.7 billion.

The company’s valuation now exceeds that of Meta, the parent company of Facebook, Instagram, and WhatsApp, even though Meta generated substantially larger revenue and profits. Meta reported $201 billion in revenue and $60.5 billion in profit last year while carrying a market value of just over $1.4 trillion.

SpaceX has said proceeds from the offering will be used to reduce debt and finance a series of ambitious projects, including orbital AI data centers, a manufacturing facility on the moon, and eventually human missions to Mars.

Although critics question whether those goals can be achieved, enthusiasm among Musk supporters remains strong. In New York, dozens of fans gathered outside the Nasdaq building in Times Square to witness the company’s public debut.

Among them was Zach Boucher, 45, who traveled overnight from California to attend the occasion.

Mr. Boucher said he was buying more than 2,200 SpaceX shares through Wells Fargo and was “never going to sell — I’m holding for the long term.”

Comparing the moment to some of the most significant investment opportunities in modern history, he added:

“This moment is “like getting in on the ground floor of GE or G.M., or being here when Microsoft opened,” he said.

The IPO generated a windfall not only for investors but also for Wall Street’s largest banks. Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, JPMorgan Chase, and 18 additional financial institutions served as underwriters and were expected to collect a record $550 million in fees.

The celebrations extended beyond SpaceX itself. Goldman Sachs transformed portions of its Manhattan headquarters into a space-themed venue complete with moon-rock-inspired desserts and a “mission control” brunch. JPMorgan and SpaceX commissioned artist Leo Villareal to create a large-scale celestial light display atop the bank’s headquarters.

Meanwhile, festivities at Starbase were expected to continue well into the evening, with company executives scheduled to address employees during a celebration and at least one nearby venue reserved for additional events honoring the company’s historic achievement.

{Matzav.com}