Goldman Sachs’ 41st‑floor war room buzzed past midnight as bankers finalized the most coveted IPO ever. Elon Musk appeared by video while SpaceX president Gwynne Shotwell and CFO Bret Johnsen re‑allocated oversubscribed blocks to sovereign wealth funds and top U.S. institutions. More than 20 investors secured billion‑dollar parcels, shattering the prior record tenfold.

The six‑month roadshow saw Goldman’s Kim Posnett and Dan Dees, alongside Morgan Stanley’s Kate Claassen and Colin Stewart, shuttling between New York, Los Angeles and Boston, drafting a 200,000‑word prospectus that sold a sci‑fi vision of Martian colonies, lunar catapults and asteroid mining. Investors tasted custom SpaceX‑branded Cronuts while analysts in jumpsuits guided them through the order book.

When trading opened Friday, SpaceX lifted $75 billion, pushing its valuation above $2 trillion. The syndicate earned a historic $500 million fee, with Goldman and Morgan Stanley each pocketing $100 million. By allocating 70 % to long‑only managers and sovereign funds, the banks ensured stable ownership, turning the launch into a wealth‑creation event for Musk allies and early backers.