Topline
SpaceX’s record-setting initial public offering raised more than $85 billion, the company announced on Monday, after the banks behind the debut sold additional shares that had been set aside to match strong investor demand.
Wall Street banks sold extra shares set aside for stronger investor demand, Elon Musk’s firm said.
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Key Facts
Brokers behind SpaceX’s IPO—Goldman Sachs and Morgan Stanley, among others—purchased an additional 83.3 million SpaceX shares, bringing the total raised to $85.7 billion as of Monday, the company said.
SpaceX raised an initial $75 billion on Thursday, a record, before brokers exercised their so-called “green-shoe option,” a provision in an IPO that allows banks underwriting the offering to sell more shares than were originally planned if there are more buyers than expected.
The IPO reportedly drew more than $350 billion in demand, including $250 billion in stock ordered by institutional investors and the remaining $100 billion from retail traders.
Shares of SpaceX, trading for their first full day, jumped another 7.5% on Monday morning after surging 19% in its debut last week.
forbes vALUATION
Elon Musk, who became the world’s first trillionaire in SpaceX’s debut, had his net worth swell by $60.8 billion on Monday to an estimated $1.2 trillion. He owns about 38% of SpaceX and is by far the world’s richest person, as Musk’s fortune is roughly four times that of Google co-founder Larry Page ($302.3 billion), who ranks second ahead of fellow Google co-founder Sergey Brin ($278.8 billion).
tangent
Two billionaires announced they increased their stakes in SpaceX in recent days: Gina Rinehart, Australia’s richest person with a net worth estimated at $25.2 billion, purchased a stake worth more than $1 billion through her Hancock Prospecting, the Wall Street Journal reported. Ron Baron, the billionaire founder of Baron Capital, told CNBC his firm purchased an additional $1 billion in SpaceX shares on Friday, increasing its position to about $25 billion. Baron was bullish on SpaceX ahead of its IPO, saying in a video posted to X earlier this month that Baron Capital expects SpaceX’s market value to exceed as much as $30 trillion.
key background
SpaceX made its highly anticipated trading debut on Friday on the Nasdaq, opening at $150 per share after initial projections of $175. Musk’s firm publicly disclosed its IPO paperwork in May, revealing it aimed to sell about 555.6 million shares at $135 per share, raising $75 billion and valuing the company at a record $1.77 trillion. In the filing, SpaceX disclosed a net loss of $4.28 billion through its latest quarter after shedding $4.94 billion in 2025. About 69% of its revenue came from Starlink ($4.69 billion), and its connectivity arm was the only profitable section of the company after its space and AI units lost $619 million and $2.5 billion, respectively. Some analysts issued warnings ahead of SpaceX’s IPO, including Morningstar, which argued that SpaceX shares should trade at $63 per share, roughly half of its IPO price, and that SpaceX overvalued its projected revenue from Starlink. Jay Ritter, a finance professor at the University of Florida, told Forbes that SpaceX’s stock would likely be boosted by the “Elon Musk effect,” or the hype surrounding Musk that Ritter said would boost the IPO before adding long-term volatility.
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