Key Takeaways
SpaceX closed its first trading day on June 12 up 19 percent at $160.95, near a $2.3 trillion valuation, after the largest IPO in history.
The roughly $75 billion raise likely made Elon Musk the world's first trillionaire, based on the size of his stake.
The milestone landed the same year 4.3 million Americans came off SNAP and food banks reported record demand.
SpaceX went public on June 12, and the numbers broke records. The stock priced at $135 a share, opened at $150 on the Nasdaq under the ticker SPCX, touched $176 in midday trading, and closed up 19 percent at $160.95, pushing the company toward a $2.3 trillion valuation, TechCrunch reported.
The raise came in around $75 billion, the largest initial public offering in history, and the deal was oversubscribed four times over. NPR and others noted the listing likely made Elon Musk the world's first trillionaire, an estimate that rests on the size of his stake rather than a confirmed net worth.
The case Musk's defenders make is that scale on this order is only justified when it is aimed at problems markets usually ignore, reusable rockets, global satellite internet, and the long shot of a second planet. SpaceX has delivered on the first two, and Starlink remains its one consistently profitable segment.'
The Same Year, Millions Lost Food Aid
The most notable part of this is the timing. The same stretch that minted a trillionaire was the stretch that pulled food off the table for millions. USDA data showed roughly 4.3 million fewer people on SNAP between January 2025 and January 2026, with the agency framing much of the drop as fraud while analysts tied it to work requirements in last year's H.R. 1.
California Food Banks told CNBC it is now serving 6 million people a month, more than it did at the peak of the pandemic.
One company is worth more than the annual output of most national economies. Millions of households just lost help buying groceries. Both are true at the same time, and that distance is worth sitting with.
People Also Ask
How much did SpaceX raise in its IPO?
About $75 billion, the largest initial public offering in history. Shares priced at $135 and closed the first day up 19 percent at $160.95.
Is Elon Musk the first trillionaire?
Reports including NPR and TechCrunch say the SpaceX listing likely made him the world's first trillionaire, an estimate based on his stake rather than a confirmed figure.
How many people lost SNAP benefits?
USDA data showed roughly 4.3 million fewer people on SNAP between January 2025 and January 2026, which analysts attribute mainly to new work requirements.
What is the ticker for SpaceX stock?
SpaceX trades on the Nasdaq under the ticker SPCX, beginning June 12, 2026.