Anthropic · SpaceX · Elon Musk · Snowflake · Fortune Technology
Elon Musk can’t sell a single SpaceX share for a year—and then all the locks crack open at once
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Unless you’ve been on the moon, you know that Elon Musk’s SpaceX pulled off the biggest IPO of all time and raised about $86 billion in its public stock offering last month.
Key facts
- The stock, which priced at $135 in the IPO, opened up at $150 on its first day trading and surged all the way to $226 per share in the following days
- Musk holds roughly 6.4 billion shares making up about 82% of the voting power at SpaceX between his Class A and Class B supervoting 10-shares-in-one stock
- Unless you’ve been on the moon, you know that Elon Musk’s SpaceX pulled off the biggest IPO of all time and raised about $86 billion in its public stock offering last month
- The reusable rocket maker did it while selling only a tiny sliver—between 4% and 5% and “as he acquires more companies, it will be adding more value to the stock, so [investors] will hold on for even longer
Summary
The reusable rocket maker did it while selling only a tiny sliver—between 4% and 5% and “as he acquires more companies, it will be adding more value to the stock, so will hold on for even longer.” SpaceX has had a stunning trajectory in its brief time in the public market. There’s a wildcard in the mix. Musk’s unusual lock-up structure presents investors with a case of extremes, giving the stock a ballast of stability for the first year, followed by the potential for a supernova event.