SpaceX Surges 11% on First Trading Day... Musk Becomes World's First Trillionaire

Due to Strong Demand, One-Third of Institutional Investors Received No Allocation

SpaceX, the aerospace company founded by Elon Musk, began trading at $150 per share on the Nasdaq on June 12 (local time), its first day of listing. This is approximately 11% higher than its IPO price of $135 per share.

According to The Wall Street Journal on that day, there were initial market expectations that SpaceX’s opening price would be set around $175 per share. However, following supply and demand adjustments, it was determined to open at $150. The stock price continued its strong performance, soaring during trading hours to as high as $168.75.

SpaceX has positioned artificial intelligence (AI), satellite communications, and aerospace as its core businesses, and has drawn significant attention this year as the largest IPO. During the subscription process, total orders reached $350 billion (approximately KRW 531 trillion). Of this amount, $250 billion came from institutional investors such as the Public Investment Fund (PIF) of Saudi Arabia, the Kuwait Investment Authority (KIA), and BlackRock, while individual investor orders amounted to $100 billion.

As IPO enthusiasm intensified, it was reported that about one-third of institutional investors who placed orders did not receive even a single share.

Immediately after the listing, Musk’s personal wealth surpassed $1 trillion for the first time in history. Bloomberg reported that with SpaceX starting trading at $150 per share, Musk’s net worth increased to $1.05 trillion (about KRW 1,594 trillion). This marks the first time anyone’s individual wealth has exceeded $1 trillion globally.

Bloomberg noted that Musk’s wealth is now comparable to the gross domestic product (GDP) of Switzerland and is more than three times that of Larry Page, who is ranked second among the world’s richest individuals.

Musk has led SpaceX as its largest shareholder and chief executive officer (CEO) since founding the company in 2002. Currently, SpaceX shares are known to make up about 70% of his net worth.

Bloomberg analyzed that Musk’s assets would surpass $1 trillion if SpaceX shares rose above $141 per share. This threshold was easily exceeded from the first day of trading.

Based on the opening price, SpaceX’s market capitalization reached $2.12 trillion. As a result, SpaceX ranked sixth globally in market capitalization, following Nvidia, Alphabet, Apple, Microsoft, and Amazon.

This content was produced with the assistance of AI translation services.