SpaceX soars 25% in Wall Street debut and makes Elon Musk the first trillionaire

SpaceX's shares surged 25% in their Wall Street debut, giving the company a $2.21 trillion valuation and making Elon Musk the first trillionaire. The IPO raised $75 billion, but analysts at Morningstar called the valuation 'significantly overvalued' at $780 billion, citing SpaceX's $8.7 billion loss between 2025 and 2026.