Washington: SpaceX delivered one of the most remarkable stock market debuts in history as its shares were indicated to open at $174 on the Nasdaq, significantly above the IPO price of $135.
According to reports based on the exchange’s opening auction process, the higher share price would lift SpaceX’s market valuation from $1.77 trillion to approximately $2.28 trillion, making it one of the most valuable companies in the world.
The blockbuster debut is also expected to have a major impact on the personal wealth of SpaceX founder Elon Musk. Forbes had estimated Musk’s net worth at $982.6 billion based on the IPO price. With SpaceX shares surging ahead of trading, Musk is now likely to surpass the $1 trillion mark, becoming the first person in history to achieve trillionaire status.
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Musk owns roughly 38 per cent of SpaceX and also holds a substantial stake in Tesla, including shares and stock options valued at around $280 billion. The combined value of his holdings has surged alongside investor enthusiasm for SpaceX’s growth prospects and dominance in the commercial space sector.
