SpaceX completed its initial public offering Friday, rocketing to a $2.2 trillion valuation and crowning Elon Musk as the world's first trillionaire. The stock surged nearly 30% to $173 per share within 90 minutes, dwarfing previous IPO records. Musk controls roughly 6.4 billion shares, representing nearly half the company's outstanding stock.

The offering raised $75 billion by selling just over 4% of total shares, establishing the largest IPO in history. However, SpaceX remains unprofitable, losing $4.9 billion last year despite generating $18.7 billion in revenue. Musk's net worth reached approximately $1.1 trillion, combining his SpaceX stake with Tesla holdings and other ventures.

SpaceX's debut signals potential for other massive offerings, including Anthropic and OpenAI, both valued near $1 trillion. These AI companies face similar profitability challenges, with OpenAI projecting $100 billion in spending against $13 billion in revenue over four years.

The market's enthusiastic response suggests investors prioritize growth potential over immediate profits, potentially clearing the path for additional mega-IPOs from money-losing but high-profile tech ventures.