Brief by Shorts91 Newsdesk / 05:43pm on 12 Jun 2026,Friday Business
SpaceX made history on June 12 with the largest initial public offering (IPO) ever, raising $75 billion and debuting on Nasdaq at a valuation of about $1.77 trillion. Investor demand was several times higher than the available shares, pushing the stock sharply higher in early trading and lifting the company’s market value above $2 trillion. The surge propelled founder Elon Musk past the $1 trillion net-worth mark, making him the world’s first trillionaire. While investors celebrated the landmark listing, critics raised concerns about wealth inequality and the company’s lofty valuation. SpaceX says the capital will support ambitious projects, including advanced space exploration and future Mars settlement plans. (PC: Reuters)
