SpaceX just made history again. The company's already record-breaking IPO got even bigger after underwriters exercised their option to buy the maximum amount of shares. The total raised now stands at $85.7 billion.
Elon Musk's space and AI company had initially raised $75 billion in its public offering — which was already the largest IPO windfall ever. But the underwriters' over-allotment option added another $10.7 billion to the pot.
That option, also called a greenshoe, lets investment banks buy extra shares if demand is high. And demand was clearly through the roof. The IPO was already the biggest in history by a wide margin, and now it's even further ahead.
SpaceX went public on June 10, 2026, after years of speculation about when Musk would take the company to the stock market. The offering priced at $420 per share — a nod to Musk's infamous "funding secured" tweet from 2018, when he claimed he had the money to take Tesla private at that same price.
The IPO made SpaceX one of the most valuable companies on the planet, with a market cap north of $500 billion. The company's Starlink satellite internet business, Starship rocket program, and government contracts with NASA and the Pentagon have driven investor enthusiasm.
For Musk, the IPO is another massive payday. He owns roughly 42% of SpaceX, according to regulatory filings. At the current valuation, his stake is worth over $200 billion on paper.
But the real winners might be everyday investors who got in early. SpaceX was one of the most anticipated IPOs in history, with retail investors clamoring for shares. Many brokerages reported record demand during the offering period.
The $85.7 billion raised is more than the GDP of many countries. It dwarfs previous IPO records — Alibaba's $25 billion in 2014, Saudi Aramco's $29.4 billion in 2019, and SoftBank's $23.5 billion in 2018.
What will SpaceX do with all that cash? The company has said it plans to use the funds to accelerate Starship development, expand Starlink's satellite constellation, and build out its next-generation rocket engines. Starship, the biggest rocket ever built, is key to Musk's goal of colonizing Mars.
SpaceX also has a growing defense business. The company recently won a $1.8 billion contract from the Pentagon for a classified satellite system, and its Starshield unit provides secure communications for the U.S. military.
With this IPO, SpaceX has cemented its status as the dominant player in the new space economy. The company now has more cash than many countries' sovereign wealth funds.
The stock began trading on the Nasdaq under the ticker SPCE. On its first day, shares jumped 18% to close at $495.60. They've since climbed further, trading above $520 as of Monday.
For Musk, the SpaceX IPO caps a remarkable few months. Tesla's stock has rebounded, his AI company xAI raised $6 billion, and Neuralink implanted its first brain chip in a human patient. The billionaire is once again the richest person on Earth, with a net worth exceeding $350 billion.
But the IPO also raises questions. SpaceX is now a public company, which means quarterly earnings reports, shareholder pressure, and regulatory scrutiny. Musk has a history of clashing with regulators and investors — his Tesla tweets have landed him in court multiple times.
Still, for now, the mood is celebratory. SpaceX employees who held stock options are now millionaires overnight. The company's 13,000 workers shared in a $10 billion employee stock pool that vested at the IPO.
And the broader space industry is watching closely. If SpaceX can pull off its ambitious Starship schedule and make Starlink the dominant internet provider globally, the stock could go much higher. If not, $85.7 billion is a lot of money to have raised on a promise.
Either way, the IPO is a landmark moment — not just for SpaceX, but for the entire space industry. It proves that space is no longer just a government game or a billionaire's hobby. It's a real business, with real money, and real returns.