The markets are starting the week in their trillion-dollar IPO era, now that SpaceX shares are trading. Why it matters: Think of Elon Musk's company like a pebble, a big one, thrown into a giant lake of equity — there will be ripples through the public and private markets, and they'll be rippling for a while. - "Any large IPO has a gravitational pull to them, so they can have sizable effects on the public markets, on private markets and sectors," Aaron Mulvihill, a strategist at JPMorgan Asset Management, tells Axios. State of play: Those impacts take time. SpaceX made only a small slice of its shares available to the market — around 5%. - In a typical IPO, a company will offer up about 10%-20% of its shares as its float, Mulvihill…
SpaceX on Thursday night raised $75 billion in its IPO, valuing Elon Musk's company at around $1.77 trillion. Why it matters: This is the largest U.S. IPO ever, at least until Anthropic and OpenAI go public later this year, and makes SpaceX one of the world's most valuable companies. Zoom in: SpaceX sold 555.56 million shares at $135 each, as expected. - Reports say the offering was very oversubscribed, including by retail investors who were allocated an unusually large number of shares. By the numbers: Musk didn't sell any shares in the offering, which valued his position at over $866 billion. - He's now the world's first trillionaire, at least on paper, when his Tesla holdings are added. Look ahead: SpaceX is expected to begin trading…
Elon Musk's SpaceX isn't the financial juggernaut that many were expecting, according to the IPO prospectus it filed yesterday. The big picture: It's expected to be the largest IPO ever, and could make Elon Musk the world's first trillionaire. - But the prospectus shows just how much the IPO depends on expectations for future growth and investor servility to Musk — as opposed to the current underlying business. - Those expectations will be severely tested if SpaceX really wants to be valued at $1.75 trillion — which would make it one of the world's 10 most valuable companies. By the numbers: SpaceX is wildly unprofitable, reporting a $4.9 billion net loss on $18.67 billion in consolidated revenue for 2025. - For context, 200…
SpaceX on Wednesday disclosed its filing for an initial public offering, ahead of an expected stock market debut next month. Why it matters: This is expected to be the largest IPO ever, and could make Elon Musk the world's first trillionaire. Catch up quick: Musk launched SpaceX in 2002 with the goal of one day colonizing Mars. - Since then, it has become the world's most successful commercial space company by far and inspired rival efforts by billionaires like Jeff Bezos and Richard Branson. - It has also become a major partner to NASA and created the Starlink satellite internet network. - More recently, SpaceX acquired xAI — Musk's frontier lab that itself had just merged with X (formerly Twitter) — with plans to focus on…