Shares in Elon Musk’s SpaceX Surge After World’s Biggest IPO

UNITED STATES – SpaceX priced the world’s biggest ever initial public offering (IPO) at $135 per share on Thursday, raising a record $75 billion and valuing the company at $1.77 trillion.

The stock began trading on the NASDAQ on Friday, opening up 11% at $150 a share, and lifting its valuation to about $1.96 trillion.

The listing makes CEO Elon Musk, who retains 82% of SpaceX’s voting power, the world’s first trillionaire.

Musk says the company is going public because it needs money to fund its ambitions of putting satellites and data centers in space, and eventually establishing a colony of people on Mars.