Its market cap started at 2 trillion USD right from the IPO.

Space X has officially started trading, and it's already up over 20% at the open, with its market cap soaring above $2 trillion.

After this listing, Musk's wealth level is set to become that of a trillionaire—note, a trillionaire, not a billionaire.. Musk now holds absolute equity in two leading US-listed companies, building a vast capital empire focused on technological innovation.

SpaceX's IPO valuation this time will also be one of the highest in recent years. However, this year is a big year for US IPOs overall, with giants like Anthropic and OpenAI set to go public later.

Objectively speaking, Space X's IPO pricing itself is already not low, but because companies of this type are so scarce and its leading position is so clear, it's bound to rise even higher after listing. However, looking at past IPO data, after a brief initial frenzy post-IPO, if there's no support from revenue performance in the short term, there will be a prolonged adjustment in the medium term. The stock price will only get on track after steady revenue and profit growth is seen later on.

Finally, an interesting point: within Space X's equity structure, a small portion comes from the initial venture capital funds of employee and teacher pensions from some provinces in the US and Canada. Now, with Space X's valuation skyrocketing after its listing, these pension funds should have made a killing.

This is quite worth learning from for domestic pension fund investments. They should invest in both the secondary market and, at the right time, in the primary market. This will lead to more substantial medium-to-long-term returns and help them grow alongside companies at an earlier stage.

(Not investment advice)

$SpaceX(SPCX.US)  $MaxWealth CNI Commercial Satellite Communication Industry ETF(159206.SZ)  $ADDSINO(000547.SZ)