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Elon Musk
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SpaceX debuts on Nasdaq, making Elon Musk the first trillionaire
SpaceX (SPCX) began trading on Nasdaq at $150 per share after an initial price of $135, marking the largest IPO in history. Shares surged over 20% early on, reaching $176 and valuing SpaceX above $2.2 trillion. The company raised about $75 billion by selling over 555 million shares, surpassing Saudi Aramco's previous record. Elon Musk, due to his majority stake in SpaceX and other holdings, became the first person with a net worth exceeding $1 trillion. SpaceX plans to use the funds for ambitious projects including Starlink expansion, space-based data centers, and AI development.
- SpaceX opened on Nasdaq at $150, rising to $176 per share
- The IPO raised $75 billion by selling 555 million shares
🔎 Why it matters: SpaceX's Nasdaq debut (SPCX) with a valuation over $2.2 trillion is a landmark financial and technological event.
📈 Upside: The IPO provides significant capital to fund Starlink expansion and AI projects.
📉 Risk: Recent $8.7 billion losses highlight financial risks in executing future plans.
🤖 Automated analysis and summary. Every story links its original source for verification.