{"id":687,"date":"2026-06-15T16:09:59","date_gmt":"2026-06-15T16:09:59","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=687"},"modified":"2026-06-15T16:09:59","modified_gmt":"2026-06-15T16:09:59","slug":"spacex-says-historic-ipo-raised-more-than-85-billion","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=687","title":{"rendered":"SpaceX Says Historic IPO Raised More Than $85 Billion"},"content":{"rendered":"
\n

forbes vALUATION<\/h2>\n

Elon Musk, who became the world\u2019s first trillionaire in SpaceX\u2019s 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\u2019s richest person, as Musk\u2019s 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).<\/p>\n

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tangent<\/h2>\n

Two billionaires announced they increased their stakes in SpaceX in recent days: Gina Rinehart<\/u>, Australia\u2019s 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<\/u>. Ron Baron<\/u>, the billionaire founder of Baron Capital, told<\/u> 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\u2019s market value to exceed as much as $30 trillion. <\/p>\n

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key background<\/h2>\n

SpaceX made its highly anticipated trading debut on Friday on the Nasdaq, opening at $150 per share after initial projections of $175. Musk\u2019s 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\u2019s 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\u2019s stock would likely be boosted by the \u201cElon Musk effect,\u201d or the hype surrounding Musk that Ritter said would boost the IPO before adding long-term volatility. <\/p>\n

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<\/div>\n

further reading<\/h2>\n

Forbes<\/span>SpaceX Opens At $150\u2014Surging 20% After Largest IPO Ever (Live Updates)<\/span>By Ty Roush<\/span><\/small><\/span><\/span>Forbes<\/span>SpaceX Shares Close Up 19% After Historic IPO Makes Musk World\u2019s First Trillionaire<\/span>By Antonio Peque\u00f1o IV<\/span><\/small><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

Wall Street banks sold extra shares set aside for stronger investor demand, Elon Musk\u2019s firm said.<\/p>\n","protected":false},"author":1,"featured_media":686,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nSpaceX Says Historic IPO Raised More Than $85 Billion - Coast to Coast Movers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coasttocoastmoverss.com\/?p=687\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SpaceX Says Historic IPO Raised More Than $85 Billion - Coast to Coast Movers\" \/>\n<meta property=\"og:description\" content=\"Wall Street banks sold extra shares set aside for stronger investor demand, Elon Musk\u2019s firm said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coasttocoastmoverss.com\/?p=687\" \/>\n<meta property=\"og:site_name\" content=\"Coast to Coast Movers\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-15T16:09:59+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/#\\\/schema\\\/person\\\/266a8d2ebdac9f8b4354d52dead7fa6b\"},\"headline\":\"SpaceX Says Historic IPO Raised More Than $85 Billion\",\"datePublished\":\"2026-06-15T16:09:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687\"},\"wordCount\":432,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/28e1c5b567cffba558333d1ca1647271.webp\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687\",\"url\":\"https:\\\/\\\/coasttocoastmoverss.com\\\/?p=687\",\"name\":\"SpaceX Says Historic IPO Raised More Than $85 Billion - 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