5 wild stats from SpaceX's first week on Nasdaq

• SpaceX raised $75 billion in its IPO, nearly three times larger than the previous record held by Saudi Aramco at $29.4 billion, with the greenshoe allotment alone bringing in $10.7 billion
• First-day trading volume hit $85 billion, exceeding combined activity of major ETFs like SPY and QQQ, while Musk's 46% stake made him worth over $1 trillion—more than quadruple Google co-founder Larry Page's $300 billion
• The company's $60 billion Cursor acquisition ranks among the largest tech deals ever, despite SpaceX losing billions annually while Amazon generates 38 times more revenue and $78 billion in net income

Summary

SpaceX's Historic IPO Generates Record-Breaking Numbers

SpaceX's initial public offering last week shattered records, raising $75 billion—nearly three times larger than the previous record held by Saudi Aramco ($29.4 billion in 2019). The greenshoe allotment alone generated $10.7 billion, surpassing most major tech IPOs including Uber ($8.1 billion) and recent chip offerings.

Key Milestones:

• Elon Musk becomes world's first trillionaire, owning approximately 46% of SpaceX plus substantial Tesla holdings. This dwarfs Google co-founders Larry Page and Sergey Brin (each worth ~$300 billion), prompting criticism from progressive politicians over wealth inequality.

• Trading volume reached $85 billion on day one, exceeding popular ETFs (SPY: $33 billion, QQQ: $46 billion) and even Nvidia's average ($27 billion). SpaceX emerged as Wall Street's second trillion-dollar company.

• Market cap surpassed Amazon on Tuesday at $2.66 trillion, briefly exceeding Microsoft. However, fundamentals show stark contrast: Amazon generated 38x more revenue, with quarterly ad revenue nearly matching SpaceX's annual sales. SpaceX remains unprofitable with billions in losses while Amazon posted $78 billion net income.

• $60 billion acquisition of AI-coding startup Cursor announced shortly after IPO, ranking among the largest tech deals ever—comparable to Broadcom's $69 billion VMware purchase and Microsoft's Activision acquisition.

Market Implications:

The IPO has raised concerns about governance, valuation disconnects from fundamentals, and Musk's concentrated wealth. Some institutional investors, including Danish pension fund AkademikerPension, avoided the offering due to governance issues. The deal is expected to close in Q3 2026.