SpaceX CEO Elon Musk rang the opening bell for his company’s historic IPO
On Friday, SpaceX went public. Thousands of enthusiastic employees watched as Elon Musk, the company’s founder, rang the Nasdaq opening bell via video from the Starbase, Texas, headquarters. In the biggest IPO ever, the reusable rocket business made its debut under the ticker symbol SPX.
On Thursday night, SpaceX set its share price at $135 per and sold 555.6 million shares to raise $75 billion, surpassing Saudi Aramco’s 2019 debut, which garnered about $26 billion, as the largest IPO in history.
SpaceX is now the seventh most valuable U.S. corporation, ahead of Musk’s own Tesla, with a worth of $1.77 trillion based on its share price.
The starting price of the shares on Friday was $175 per share, 30% more than its initial public offering (IPO) price.
With this launch, Musk is theoretically on the approach of being the first trillionaire in history. It is anticipated to produce roughly 4,400 millionaire employees, including about 400 with holdings of more than $100 million.
During his brief statement, Musk told his staff that he never thought the firm would survive, reflecting on the low chances he had previously assigned it.
