What Happened
Elon Musk's Company Enters Public Markets with Record Valuation
SpaceX, founded by Elon Musk, has completed its initial public offering, raising $75 billion and achieving a valuation of nearly $1.8 trillion. The company’s shares surged on their first day of trading, pushing its market value above $2 trillion. SpaceX’s business extends beyond launch services, with a growing portfolio of space and technology businesses, including its Starlink satellite internet service. According to SmartAsset.com, the company’s IPO marks a significant shift in its business model and may have major implications for the commercial space industry.