SpaceX IPO raised $10bn more than thought

SpaceX raised $10 billion more than initially reported in its initial public offering, bringing the total to $85.7 billion after underwriters exercised a greenshoe option to purchase additional shares, the company confirmed [1]. The rocket and satellite company joined the Nasdaq stock exchange on June 12, 2026, in what was already the largest IPO in history [1][4]. The listing initially raised $75 billion from investors, funds that Elon Musk told employees would finance a "significant growth phase" [1]. Banks including Goldman Sachs, Bank of America, and JPMorgan later exercised an overallotment option in full, purchasing an additional 83.3 million shares directly from SpaceX to meet extraordinary investor demand [1]. The extra $10 billion raised would by itself rank as one of the largest IPOs ever recorded [1]. The total raised reached $86 billion, according to a separate accounting of the offering [2][4]. The IPO valued SpaceX at $1.77 trillion, and on the first trading day the company reached a market capitalization of about $2.1 trillion, positioning it as the sixth most valuable U.S.-listed firm [4]. Shares were first offered to investors at $135 and surged more than 14% on their first full day of trading, reaching $184 [1]. The company trades under the ticker symbol SPCX after securing a Nasdaq rule change that allowed its early inclusion in the Nasdaq-100 index [4]. Musk owns 42% of SpaceX's outstanding shares and controls 85% of the voting power through super-voting stock [2]. The IPO made him the first U.S. dollar trillionaire, according to Bloomberg calculations [1][4]. His wealth remains tied to the company's equity, leaving his status dependent on market performance [1]. SpaceX was founded in 2002 with the goal of reducing spaceflight costs and enabling Mars colonization [2]. The company now operates three divisions: space launch, the Starlink satellite internet constellation, and an artificial intelligence unit that runs Grok, X, and data centers following the 2026 acquisition of xAI [2]. Starlink has generated the bulk of SpaceX's income and led to its Starshield military counterpart [2]. The IPO proceeds are intended to fund long-term ambitions including building orbital AI infrastructure to meet computing needs for the xAI subsidiary [4]. Goldman Sachs, one of the lead underwriters, is among the largest investment banks globally by revenue and frequently structures financing for startups, often securing additional business as bookrunner when companies launch IPOs [5]. The firm was founded in 1869 by Marcus Goldman, a German-American financier, and later renamed M. Goldman and Sachs when Goldman invited his son-in-law Samuel Sachs into the business in 1882 [6][7].