SpaceX Raises $75 Billion in World's Largest IPO
SpaceX has completed the world's largest IPO. The company raised $75 billion by selling shares to the public.
Each share was priced at $135. SpaceX sold 555.6 million shares in total.
The IPO values SpaceX at $1.77 trillion. Trading will begin Friday on the Nasdaq stock exchange under the code SPCX.
SpaceX owner Elon Musk could become the world's first trillionaire. The SpaceX IPO increased the company's value enough to push Musk toward that mark.
Klear Note — An IPO lets a private company sell shares to the public. This makes the company's value known and lets regular people invest in it.
Key Terms 4
- IPO When a company sells shares to the public for the first time
- Nasdaq A major US stock exchange where tech companies are traded
- Trillionaire A person whose total wealth exceeds one trillion dollars
- Market value The total worth of a company based on its share price