For once, SpaceX is ahead of schedule: the company officially confirmed that it has raised $75 billion from the sale of its shares to its underwriters. Shares will begin trading on the Nasdaq stock exchange this Friday.
Priced at $135 each, SpaceX’s 555.6 million shares make it the largest Initial Public Offering (IPO) in history, potentially making Elon Musk the first trillionaire. The company, officially Space Exploration Technologies Corp., will trade under the SPCX ticker symbol.
While IPO pricing typically works itself out as markets open, SpaceX took an unusual approach by testing its $135 share target with investors before its official roadshow started. The offering attracted four times the available shares and may see an additional 83.3 million shares brought to market if oversubscribed.
SpaceX’s eye-popping valuation raises questions about how it will justify such a high price, given ongoing engineering projects like the world’s largest reusable rocket and a new American chip fab. The company’s list of tasks is daunting, but the sale promises significant windfalls for key shareholders and venture capitalists who backed SpaceX during its two decades as a private entity.
The listing will deliver Antonio Gracias 503.4 million shares, putting his position at nearly $68 billion at the IPO price. Other major shareholders include SpaceX board member and investor Luke Nosek, with 33 million shares, and COO Gwynne Shotwell, who holds nearly 12.6 million shares.







