SpaceX Makes Its Nasdaq Debut at $135 a Share in the Biggest IPO Ever
SpaceX has locked in its final IPO price at $135 per share, with the company set to begin trading on the Nasdaq at a valuation of $1.77 trillion three times larger than the previous record holder, making the stock market debut at $135 per share one of the defining financial moments of the decade.
The Company has earmarked more than 20% of the shares for retail investors well above the typical 5% to 7% allocation for most IPOs. Musk had pledged years ago, in a post on what was then X, that retail investors would get top priority.
Thousands of Employees Set to Become Millionaires
SpaceX’s first employee Tom Mueller described the historic listing as “life-changing” for thousands of workers, recalling that Musk had always told staff their equity would be worth something someday and that day had arrived. The IPO widely expected to create more than 4,000 employee millionaires overnight, a wealth event without parallel in recent corporate history.
BlackRock alone placed an order for at least $5 billion in shares, according to the Wall Street Journal, underscoring the institutional appetite that drove the offering to become heavily oversubscribed.
At $135 per share, SpaceX trades at roughly 92 times trailing sales a hefty premium relative to the broader market, where the average S&P 500 price-to-sales ratio sits at 3.7. The company posted a $4.3 billion loss in the first quarter of 2026, and analysts are divided on whether the valuation holds once IPO euphoria fades.
SpaceX expected to raise more money through this IPO than all U.S. offerings in 2024 and 2025 combined, a milestone that signals just how dramatically AI and space investment has reshaped market appetite and how much of that appetite now concentrated around Elon Musk.
had
