SpaceX has returned to a $2 trillion market capitalization in early September 2026, about three months after its record-shattering Nasdaq debut. The June 11 IPO raised $75 billion by pricing shares at $135 each, resulting in an initial valuation of approximately $1.77 trillion across 13.08 billion outstanding shares. Shares briefly surpassed the $2 trillion threshold with an intraday high near $226, before retreating to around $154 by late June, a 32% decline driven by an extremely thin public float of just 4-5%. The company reported $18.7 billion in revenue for 2025 against a net loss of approximately $5 billion, with Morningstar analysts valuing the fair price at roughly $780 billion. Elon Musk retains an estimated 42-50% stake, giving him concentrated voting control over the $2 trillion public company.
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