Elon Musk’s SpaceX has priced its initial public offering at $135 per share, raising $75 billion in what is the largest IPO on record. The space, satellite, and AI company sold 555.6 million shares, giving the conglomerate a valuation of $1.77 trillion as it prepares to begin trading on Friday.
The offering has attracted significant interest from both institutional and retail investors, with retail orders alone exceeding $70 billion. As the company enters the final stages of its market debut, underwriters have the option to purchase an additional 83.33 million shares.
The record-breaking debut positions SpaceX as one of the world's most valuable companies and places Elon Musk on the verge of becoming the world's first trillionaire. Despite the high anticipation, some analysts disagree on whether the company is worth the valuation set by Musk.