SpaceX IPO Raises $75 Billion, Sets Wall Street Record

SpaceX, founded by Elon Musk in 2002, launched its initial public offering (IPO) on Wall Street, raising a record $75 billion, the largest in history. The IPO was oversubscribed four times, with 20% of shares reserved for retail investors.

SpaceX's valuation reached approximately $1.8 trillion, placing it among the top 10 largest companies on Wall Street, ahead of Tesla and Meta. The company plans to utilize the funds to enhance its operations, including its Starlink satellite internet service and its artificial intelligence division, XAI.

Musk's ambitious goals include making space travel more accessible and establishing a human presence on Mars. The IPO is expected to contribute to Musk's potential status as the world's first trillionaire.

Despite a reported net loss of $4.9 billion, SpaceX anticipates revenue growth, projecting $28.5 trillion across various markets. The debut reflects significant investor confidence in Musk's vision and the future of space technology.