SpaceX completes record-breaking IPO on Nasdaq, valuing company above $2 trillion and making Elon Musk world's first trillionaire

Unbiased summary

SpaceX listed on the Nasdaq stock exchange on Friday in the largest initial public offering in history. Shares were priced at $135 each before trading opened at $150, reaching a high of $176.50 and closing around $160-$161. The IPO raised approximately $75 billion and valued the company at roughly $2.1-2.2 trillion at close. Elon Musk, who holds a 42% stake in SpaceX, saw his net worth rise to approximately $1.1 trillion according to Bloomberg and Forbes estimates, making him the world's first trillionaire. SpaceX president Gwynne Shotwell rang the opening bell at the Nasdaq, and the company simultaneously launched a Falcon 9 rocket carrying 29 Starlink satellites. The IPO created approximately 4,000 employee millionaires. Analysts noted that SpaceX's primary profitable division is its Starlink satellite internet service.

Coverage by outlet

The Guardian left

Angle The Guardian presents a split approach: one factual news report and one opinion piece that frames the IPO as evidence of unchecked capitalist power and cronyism under Musk and Trump.

Bias The straight news article is largely factual and balanced, reporting share price movements and quotes accurately. However, the accompanying Robert Reich opinion piece — presented as part of the same coverage package — characterises the IPO as built on 'hype, connections and total, arbitrary control,' compares it to DOGE, and alleges self-dealing via the xAI deal, without providing full counter-arguments or context for the bull case on SpaceX's valuation. The opinion piece omits SpaceX's genuine operational achievements, such as its dominance in commercial launch services and Starlink's profitability, which would complicate the narrative of pure hype.

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BBC News centre-left

Angle BBC leads with the milestone of Musk becoming a trillionaire and uses it as a launching point to examine wealth inequality and Musk's controversial political influence.

Bias The BBC's factual reporting on share prices and valuation figures is accurate and well-sourced, citing Bloomberg data. However, the coverage pivots quickly to wealth inequality and Musk's political activities — including DOGE and Trump donations — which, while factually accurate, are contextualised in a way that frames the IPO milestone primarily as a social and political concern rather than a financial or technological event. The charts article is largely neutral and informative. The main article omits substantive discussion of SpaceX's business achievements and investor rationale, which would provide a more complete picture.

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Daily Mail right

Angle The Daily Mail frames the IPO as an unambiguously triumphant, record-shattering event, foregrounding employee wealth creation and Musk's historic achievement with an enthusiastic, celebratory tone.

Bias The Daily Mail's coverage is broadly factually accurate on key figures but adopts an overtly celebratory tone — using phrases like 'blasted off,' 'monster debut,' and 'lucky inner circle' — that reads more as boosterism than neutral reporting. It prominently features the 4,000 new millionaires and high employee payouts, humanising and popularising the story in a way that downplays any critical perspective on the valuation or wealth concentration. The outlet does briefly note, to its credit, that analysts consider only Starlink to be profitable today, but this caveat is minimised relative to the enthusiasm of the surrounding coverage. No mention is made of wealth inequality concerns or Musk's political controversies.

Elon Musk is the world's first trillionaire after shattering records with monster SpaceX stock market debut