SpaceX shares jump 11% at start of trading, with Elon Musk likely to become world’s first...

SpaceX shares surged approximately 11% above their initial public offering price as trading commenced on the Nasdaq, marking the largest stock market float in history.

Following a price-discovery auction that lasted over two hours, shares opened at $150, a substantial premium over the $135 IPO price.

The offering raised a record-breaking $75 billion, and the subsequent rally pushed SpaceX's valuation close to $2 trillion.

The milestone IPO has positioned Elon Musk to become the world's first trillionaire, a distinction that would have seemed inconceivable merely a decade ago.

Had SpaceX remained a private company, Musk's wealth would not have been subject to such transparent market-driven reassessment.

Analysts emphasized that the aerospace technology sector has rarely witnessed a debut of this magnitude on any stock market worldwide.

Before ringing the Nasdaq opening bell, SpaceX executives underscored the company's unwavering commitment to its core mission.

Chief operating officer Gwynne Shotwell revealed that the company had launched a Falcon 9 rocket from Cape Canaveral on the very same morning.

The rocket carried 29 Starlink satellites into low Earth orbit, a routine yet symbolically powerful gesture on such a momentous financial occasion.

Market observers noted that indicative prices had fluctuated throughout the extended auction, initially pointing to an opening as high as $160 per share.

Not only did the final opening price settle below that early estimate, but it also demonstrated the inherent volatility surrounding high-profile listings.

Whether SpaceX's valuation will sustain this trajectory remains to be seen, though few would dispute the transformative impact of the company's entry onto the public stock market.