SpaceX CEO Elon Musk, displayed on a screen remotely from SpaceX headquarters in Starbase, Texas, speaks before the launch of SpaceX’s initial public offering (IPO) at the NASDAQ MarketSite in New York on June 12, 2026.
Elon Musk is poised to become the world’s first trillionaire as SpaceX went public Friday morning with the rocket, satellite, and AI company setting an initial public offering of $555.6 million shares at $135 a share, aiming to raise a staggering $75 billion and placing the company’s valuation at $1.77 trillion. Early reports show that initial trades for SpaceX ultimately opened around $160 a share, signaling a very lucrative day ahead for the Tesla CEO and thousands of early investors set to reap millions, and even billions, from the IPO.
While expressing concerns about financial aspects of SpaceX — notably, xAI — Scott Galloway says on the latest episode of Pivot that the “cult” around Musk “will invest in anything” he puts forward. Galloway and co-host Kara Swisher were joined by MS NOW’s Stephanie Ruhle to discuss how SpaceX’s IPO might fare out of the gate and the impact its entrance on the market could have on rivals OpenAI and Anthropic.
Pivot
Twice weekly, Scott Galloway and Kara Swisher host Pivot, a New York Magazine podcast about business, technology, and politics.
