Billionaires Hold Large Stakes in SpaceX After Historic IPO

Space Exploration Technologies Corp., trading under the ticker SPCX on the Nasdaq, completed the largest initial public offering in history on June 12, 2026, raising $85.7 billion. Since its debut, the stock has experienced significant volatility, peaking at $225.64 shortly after listing before falling below its $135 IPO price. As of mid-August, the stock has recovered, closing recently at $140, representing a roughly 29% gain for the month but still below its first-day opening price of $150.

The company’s first quarterly earnings report as a public entity, released for the second quarter, showed robust growth. Revenue reached $7.8 billion, a 92% increase compared to the same period last year. This growth was driven by a 247% surge in its artificial intelligence business and continued expansion of the Starlink satellite internet service, which now serves 12 million subscribers. While the AI segment reported an operating loss, the company’s adjusted EBITDA rose sharply to $3.5 billion. SpaceX’s net loss narrowed to $541 million, though capital spending remained high as the firm invests in launch vehicles and AI infrastructure.

Regulatory filings have revealed major stakes held by...