SpaceX Raises $25B in Bond Sale, Shares Rebound as Musk Net Worth Drops
SPCX•SpaceX raised $25 billion in its inaugural bond sale, with demand far outstripping supply, prompting SPCX shares to rebound modestly after a steep selloff. The stock, trading at $154.35 post-IPO, contributed to Elon Musk’s net worth falling to $970.2 billion as tech valuations stumbled.
1. Inaugural Bond Sale Raises $25 Billion
SpaceX priced its first-ever debt issuance at $25 billion, marking the largest inaugural corporate bond sale in its history. Demand outstripped supply, underscoring investor confidence in the company’s long-term financing strategy.
2. Stock Performance and Modest Rebound
Following a broader tech selloff, SPCX shares rebounded modestly as the bond sale demonstrated strong capital backing. The stock traded at $154.35 post-IPO, reflecting resilience despite market volatility.
3. Musk’s Net Worth Dips Below $1 Trillion
A decline in SpaceX and Tesla share prices reduced Elon Musk’s net worth to $970.2 billion, ending his brief stint as a trillionaire. The wealth shift highlights the sensitivity of his fortune to stock price movements.
