SpaceX IPO Breaks Records, Musk Hits Trillion-Dollar Milestone
SpaceX's historic IPO — the largest market debut ever — and Elon Musk becoming the world's first trillionaire is a landmark financial and technological event. The subsequent volatility following the $60 billion Cursor acquisition adds complexity to one of the week's biggest business stories.
The Morning Brief · June 21, 2026 · Based on reporting by CNBC Top News
SpaceX completed the largest IPO in history this week, pricing shares at $135 and debuting to immediate gains that pushed the company's valuation above $2 trillion. By week's end, shares had risen 37% from their offering price, and Elon Musk's stake in the company crossed $1 trillion in value, making him the first person in history to reach that threshold.
The week was not without turbulence. SpaceX shares fell as much as 7% mid-week, erasing roughly $600 billion in market value, after the company announced a $60 billion acquisition of AI coding tool Cursor. The deal rattled investors who had bid up the stock on its rocket and satellite business. Shares recovered 6% on Friday. Buyers from the IPO's first day ended the week roughly at breakeven.
Sources
CNBC Top News — SpaceX gains 6% as it begins first full day of trading after record debut
SpaceX is now valued at over $2 trillion after its stock rallied on the first day of trade.
CNBC Top News — Musk's SpaceX stake is worth over $1 trillion. Here are the other billionaire shareholders
SpaceX shares were up 37% after its historic debut last week, which offered shares at a set price of $135.
Forbes — SpaceX stock plunge wipes out $600 billion after Cursor deal spooks investors
Elon Musk's rocket firm pulled back sharply from its post-IPO rally, with shares falling as much as 7% after a Cursor AI deal raised concerns, leaving the average post-IPO buyer nearly underwater.
