SpaceX hit Nasdaq Friday, catapulting Elon Musk into history as world's first trillionaire, at least on paper. Shares opened at $135,then surged 25% soon after,closing around $161 . That's a 19% jump for day.
IPO put SpaceX's value at about $2.1 trillion, boosting Musk's net worth to roughly $1.1 trillion. Shares peaked at $173,pushing market cap to $2.26 trillion before dipping slightly by day's end.
SpaceX's IPO is richest ever,raising $75 billion by selling some 555.6 million shares. It smashes previous record by Aramco, which raised $29 billion in 2019. Musk says public offering needed to fund big plans — more satellites,space data centers. He dreams of life on other planets,inviting public to imagine moon and Mars travel.
Despite huge valuation,questions persist on how SpaceX justifies price. Reported $18.7 billion in revenue last year,but faced $4.9 billion loss from heavy AI investment. This means revenue valuation spans over century,unlike Volkswagen which earns more in two months than SpaceX does annually.
SpaceX has yet to post net profit in any year,raising analyst eyebrows. But similar doubts didn't stop Tesla's stock surge recently. SpaceX now among top U.S . firms,just behind tech giants like Nvidia, Apple,Alphabet,Microsoft, Amazon.
Tesla's market cap at $1.26 trillion,helped by recent profits,while Nvidia's near $5 trillion,thanks to AI boom. Musk's knack for drawing investor interest remains key in SpaceX's valuation. His celebrity pull and track record…
