10AM Hour: SpaceX Goes Public 6/12/26

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Elon Musk (0:53)

It's probably been, I don't know, almost 10 years that people have been suggesting to me that I should take SpaceX public.

SPEAKER_4 (1:02)

This is going to become the largest company on the planet.

Elon Musk (1:06)

I think it would be pretty cool if you could, you know, vacation on the moon.

Alex Karp (1:11)

I wish them the best. I mean, they're inventing stuff that can change humanity for the better.

SPEAKER_6 (1:16)

Is SpaceX today worth one trillion?

Sean Maguire (1:18)

Maybe. Is it worth three?

SPEAKER_9 (1:20)

Yeah, you know, maybe.

SPEAKER_4 (1:22)

The company over the next 10 or 15 years is going to be worth 10 trillion, 20 trillion, 30 trillion, and I could be very low.

Elon Musk (1:30)

I call Mars the fixer-upper of the planet, you know, but it's got a lot of potential.

SPEAKER_9 (1:35)

I'm not a fan. What you're talking about is an unbelievably capital-intensive business.

David Faber (1:40)

You're going to be keeping an eye at all on that other IPO that may be happening tomorrow?

Ben Miller (1:44)

I'll be watching along with the rest of you.

Alex Karp (1:47)

I'm very optimistic for the future. I root for every entrepreneur. I'm rooting for Elon.

Carl Quintanilla (1:58)

Good Friday morning. Welcome to a special edition of Squawk on the Street. I'm Carl Quintanilla with Sara Eisen, David Faber here at Post9 at the New York Stock Exchange. Today, it is all systems go as we await the public debut of SpaceX from here on the street to the NASDAQ in Times Square where the company is listing. That is where we find our Seema Modi and Morgan Brennan. Morgan is going to bring us an exclusive with SpaceX president and CEO Gwen Shadwell in just a moment. Leslie Picker live from the Morgan Stanley trading floor. Of course, Morgan Stanley responsible for the opening of the stock today. We'll get to the latest indications for the first trade as we get them. And then Robert Frank, our wealth reporter, looking at how SpaceX and Tesla could propel Elon Musk to become the world's first trillionaire. In addition to Shadwell, a huge lineup, including some of the company's biggest investors from Sequoia, Elon McQuire, to Valor Equity Partners, Antonio Gracias, owning more than 7% of the company, and at Trades Management, Gavin Baker. This is a very big historic day, even as we try to keep an eye, David, on some of the headline indices, too.

David Faber (2:57)

Yeah, those investors obviously, those percentages prior to the IPO. Looking forward to those conversations. Elon Musk, addressing SpaceX employees at Starbase in Texas this morning, that was just ahead of the opening bell.

Elon Musk (3:12)

It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever. And let me tell you, if people had told me this was going to happen, I was like, man, you must be smoking some really good crack. I think this company is going to fail.

I mean, I gave SpaceX less than a 10% chance of succeeding at all, to be clear.

David Faber (4:03)

Well, succeeded has certainly, and of course we are going to see a trading as a public company the first time later today. Latest indications, according to Leslie, were 175 Obviously, we'll be hearing from Leslie Picker shortly as well in terms of where things stand.

But if you exercise the green shoe as well, I mean, you are talking about a market value that would exceed $2 trillion, Sara, at the open.

Sara Eisen (4:25)

The numbers are staggering, and so I thought it would be helpful to just put a little bit in perspective to just show just how historic of a day it is and how staggering everything is. Look, in terms of how much SpaceX is raising in this IP of $75 billion.