SpaceX begins trading on NASDAQ following record initial public offering

SpaceX began trading on the NASDAQ after completing what the company described as the largest initial public offering in history. The stock debut created substantial wealth for multiple stakeholders in the aerospace firm.

Founder Elon Musk's stake in the company valued him at over $1 trillion following the trading commencement, marking the first time an individual has reached that wealth threshold. The milestone reflects both Musk's ownership position in SpaceX and the company's valuation following the public market entry.

Beyond Musk, numerous current and former SpaceX employees saw their net worth reach the multi-millionaire range as a result of the offering. Many employees held equity stakes or stock options in the company prior to going public, allowing them to benefit from the increased valuation that accompanies a successful IPO.

The offering represents a significant moment in the commercial spaceflight industry, which has expanded substantially over the past two decades. SpaceX, founded in 2002, has become a major contractor for NASA and a provider of satellite launch services for government and commercial clients.

NBC News correspondent Christine Romans reported on the IPO and its financial implications for the company's stakeholders.