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SpaceX makes dazzling debut on Nasdaq, turning Elon Musk into world’s first trillionaire
- IBJ Bureau
- Jun 13, 2026
SpaceX jumped 19 per cent in its Nasdaq debut on Friday, sending the company’s value past $2 trillion.
The Nasdaq listing turned SpaceX into the sixth-biggest US company by value and made its founder Elon Musk the world’s first trillionaire.
As the stock listed on the exchange, investors scrambled to get a piece of Mr Musk’s sprawling empire spanning rockets, satellites and AI after the record-setting $75 billion IPO.
More than 510 million shares worth about $84 billion changed hands, even though SpaceX is currently unprofitable and generated only a fraction of the revenue brought in by similarly valued tech giants.
The launch was smoother than many observers expected, with trading kicking off late on Friday morning without the hiccups that had marred Facebook’s debut in 2012.
SpaceX shares ended the day at $160.95 per share to bring its value to $2.1 trillion.
The gain pushed SpaceX’s market value past Broadcom with Amazon next in line at $2.6 trillion.
The trade capped off a lead-up fraught with anxiety over the Nasdaq exchange’s ability to handle the launch, particularly after a recent swoon in technology shares had raised concerns about stratospheric gains in AI-linked names.
Mega listings from AI heavyweights, like Anthropic and OpenAI, are waiting in the wings.
Investors across the spectrum, from large institutions to retail fans of Mr Musk,ended the day euphoric.
“For many investors, SpaceX is the closest thing to investing in the railroads during the Industrial Revolution, and they are willing to pay the Elon Musk premium for that opportunity,” said Seth Hickle, the chief investment officer of Mindset Wealth Management in Indianapolis.
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