SpaceX IPO raises $85.7B on June 12, surpassing $75B plan
Business
SpaceX just made history with its IPO on June 12, raising a massive $85.7 billion, well above the original $75 billion amount raised from investors.
Thanks to huge investor interest, banks like Goldman Sachs and JPMorgan sold extra shares to keep up with demand.
Valuation hits $1.8T, Elon Musk trillionaire
This record IPO shows investors are betting big on SpaceX's future plans.
Shares jumped over 14% to $184 by June 15, valuing the company at $1.8 trillion and making Elon Musk a trillionaire, according to Bloomberg.
Some analysts warn about tough competition and industry risks ahead, but excitement around SpaceX's vision is still going strong.