SpaceX CEO Elon Musk, pictured in 2025 at the White House, is poised to move even closer to being the world's first trillionaire as the company's IPO goes live on the NASDAQ on Friday. File Photo by Shawn Thew/UPI | License Photo
June 11 (UPI) -- The final price for the SpaceX initial public offering has been set at $135 per share, giving the company a $1.77 trillion valuation when it starts trading on Friday.
The company on Thursday said that it had raised $75 billion off the sale of 555.6 million shares, which will be traded on the Nasdaq Composite Index starting on Friday morning, NBC News and the New York Post reported.
SpaceX is set to far surpass the previous record for an IPO, which was set by the oil giant Saudi Aramco at 2019 which raised $29.4 billion when it hit the market, and which will set it up as the seventh-largest company in the United States.
Experts have noted that while most regard SpaceX primarily for its rocket business -- which spans from space exploration with NASA to commercial launches for a host of companies and governments -- its satellite-based Internet service Starlink and its xAI artificial intelligence unit make it a more diverse investment than some think.
