The launch of the aerospace giant SpaceX on the stock market was an unprecedented event for the world economy. While investors crunch the numbers, the company is firmly cementing its status as one of today’s most valuable assets, despite challenging established financial traditions.
On Thursday, SpaceX officially priced its shares in the largest initial public offering (IPO) in US history. The cost of a single security was $135, which made the manufacturer of rockets and spaceships one of the most expensive corporations in the world. In total, the company raised a record $75 billion by selling 555.56 million shares, valuing its market capitalization at a staggering $1.77 trillion. This was reported by Reuters.
This result allowed SpaceX to take seventh place among companies whose shares are listed on American exchanges. It bypassed such giants as the JPMorgan Chase bank holding, the Berkshire Hathaway investment empire, and the Eli Lilly pharmaceutical corporation. Moreover, the space company’s market value now exceeds that of Meta Platforms and even Musk’s other brainchild, electric car maker Tesla.