Topline
SpaceX shares closed up 19% on Friday following its highly anticipated initial public offering, which became the largest IPO of all time and sent Elon Musk’s net worth soaring into trillionaire status.
SpaceX’s initial public offering was held Friday morning.
Photo by Spencer Platt/Getty Images
Key Facts
SpaceX, which opened trading at $150 per share, closed up 19% at $160.95 per share.
Initial projections forecast a $175 opening for SpaceX, which would have marked a 30% increase for its stock, according to CNBC and The Wall Street Journal.
SpaceX finalized its IPO price at $135 per share on Thursday even as investor orders reportedly topped $100 billion before it went public.
The IPO made Musk the world’s first trillionaire, with his estimated net worth reaching $1.1 trillion by the end of trading Friday.
Big Number
$2.1 trillion. That was SpaceX’s market capitalization at market close Friday.
This is a developing story. Check back for updates.