GoKawiilSpaceX could end up in your retirement account next. Cheng Xin/Getty Images
When SpaceX's initial public offering debuted on June 12, it broke a Wall Street record as the highest-valued IPO in financial history, raising over $75 billion in cold, hard cash. The Frankensteined amalgamation of Elon Musk's aerospace and AI ventures is now one of the world's largest-traded companies, with a public valuation hovering around $2 trillion.
Since xAI is bundled inside SpaceX, this also marks the first time an AI giant has entered the public market, beating out competitors like OpenAI and Anthropic.
After years of private tech firms closing the books on public investment, a wave of fresh IPOs has sparked a frenzy among retail investors hungry for a piece of the biggest companies in the world.
That fever is what made SpaceX's public stock offering a rousing success on the first day of trading. Shares soared far past their opening price of $135, surging 19% to $161 by the closing bell. Over the last several weeks, share prices have risen and fallen with daily volatility.
Whether you planned to be financially involved with an AI company or a Musk business venture, you might not have a choice in the matter. SpaceX stock is likely going to end up in your retirement account, and potentially millions of children's savings accounts. Here's everything you need to know.
Once SpaceX was publicly listed, Musk became the world's first trillionaire. Spencer Platt/Getty Images
Musk became the world's first trillionaire (then he wasn't)
Musk, the CEO and largest shareholder of SpaceX and Tesla, is the first person in the world to reach a net worth of over $1 trillion, though his trillionaire status depends on the day of the week.
At its highest point since the SpaceX IPO, Musk's net worth was $1.32 trillion. But the former DOGE head's stratospheric level of wealth is largely tied to Tesla and SpaceX stock, which fluctuate in value. After stocks fell on June 23, his net worth dropped to $957 billion. Musk recently regained his trillionaire status.
... continue reading