SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire
Summary
SpaceX started trading on US stock markets with a value close to $2 trillion, making Elon Musk the world’s first trillionaire. The company sold $75 billion in shares, and its stock opened higher than the initial price.Key Facts
- SpaceX’s market value is about $1.96 trillion after its initial public offering (IPO).
- Shares began trading at $150, a 6.6% increase from the IPO price.
- The company sold $75 billion in shares during the IPO.
- The IPO demand was four times higher than expected.
- About 70% of shares went to long-term investors and sovereign wealth funds from countries like Saudi Arabia and Kuwait.
- Protests occurred outside the Nasdaq MarketSite due to concerns over a SpaceX subsidiary related to deepfake images.
- SpaceX’s revenue relies heavily on Starlink, which makes up around 80% of its income.
- Despite being highly valued, SpaceX posted a nearly $5 billion loss last year.
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