Tesla Inc (NASDAQ:TSLA) went public in 2010, with the electric vehicle company valued at around $1.7 billion. Eleven years later, the company was worth $1 trillion. For SpaceX (NASDAQ:SPCX), the space company went public already worth $1 trillion, but that makes a pullback after IPO significantly higher in value than when Tesla went public.
SpaceX Valuation Wipeout
SpaceX priced its IPO at $135 per share and opened for trading at $150, debuting with a valuation north of $1 trillion — enough to briefly make CEO Elon Musk the world’s first trillionaire. The stock kept climbing, peaking at a $2.64 trillion valuation on June 16, 2026.
Just over a month later, that valuation sits at $1.42 trillion — a decline of roughly 46%, or about $1.2 trillion in market value. To put that figure in perspective, $1.2 trillion is essentially the entire current market cap of Tesla.
In other words, in just over a month SpaceX has shed a sum equal to all of Tesla.
Value Changes Over the Years
Tesla took 18 years to hit the $1 trillion market capitalization milestone, becoming just the sixth U.S. company at the time to reach the plateau.
The milestone came 10 years after the IPO and made Tesla one of the fastest companies ever to reach the market cap level at the time.
Today, Tesla is worth $1.2 trillion and ranks 11th among public companies.
SpaceX ranks 10th at $1.44 trillion, even after the drop in value. Despite the drop in value, SpaceX is still worth more than Tesla, Berkshire Hathaway ($1.10 trillion), Eli Lilly ($1.09 trillion) and Walmart ($919 billion).
SpaceX IPO investors are hoping for a rebound, while those who stayed on the sidelines may have seen the pullback coming, given the company’s lofty debut valuation and the tendency of richly priced IPOs to cool off.
Photo: JRdes / Shutterstock
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