SpaceX IPO Live Updates: Elon Musk Becomes World’s First Trillionaire

The markets also show positive sentiment toward derivative prices, as they believe SpaceX will perform well after its initial public offering. According to IG International, SpaceX has a market cap of around $2.4 trillion, which is more than 35% above its IPO price.

The bullish momentum also continues to play out in crypto prediction markets. Perpetual futures contracts have always existed for SpaceX at $174 each, which was higher than its IPO price of $135, giving a market cap of over $2.2 trillion.

There has been a flurry of activity in derivatives linked to SpaceX in preparation for its IPO. In the past 24 hours, there has been more than $143 million in perpetual futures trading of SpaceX.

Speculations in shadow markets show that there is great expectation from the performance of SpaceX in the market. The price expectations indicate that the stock will perform significantly better than its IPO price of $135 due to the demand for the company's fast-growing space-related business.

This optimism from investors can be attributed to what the analysts call the ‘Elon premium,’ a concept that entails the tendency of investors to attach high valuations to companies led by Elon Musk due to uncertainties related to their governance, profit potential, and ability to deliver on projects. 

Elon Musk reshared a social media post claiming that SpaceX's historic IPO will create around 4,400 new millionaires across the company, from engineers to cafeteria workers. 

With an IPO price of $135 per share, SpaceX's valuation is around $1.77 trillion. This valuation means SpaceX is among the most valuable publicly traded companies in the United States, even outperforming several corporate titans. The market has shown its confidence in SpaceX’s future performance in satellite communications, launches, and artificial intelligence. 

SpaceX’s record-breaking $75 billion initial public offering has propelled Elon Musk’s net worth beyond $1.1 trillion, making him the world’s first trillionaire. The company’s market debut significantly boosted the value of Musk’s holdings, with his SpaceX stake alone estimated at $866 billion.

SpaceX is set to begin trading on the Nasdaq Global Select Market and Nasdaq Texas under the ticker symbol ‘SPCX’ on June 12. The company has priced its IPO at $135 per share, with the offering expected to close on June 15, marking the formal transition of Elon Musk’s space venture into the public markets. For more details check here…