SpaceX Has Moved Up To Fifth Place In The Ranking Of The World's Most Valuable Companies

Its market value is currently nearly $2.8 trillion.

The market capitalization of Elon Musk's SpaceX has risen by more than 10% since the market opened on Tuesday. Its current market value is nearly $2.8 trillion.

SpaceX has risen to fifth place on the list of the world’s most valuable companies, overtaking Amazon ($2.7 trillion). Elon Musk’s company now shares the ranking with Nvidia Corp. ($5.14 trillion), Alphabet Inc. ($4.46 trillion), Apple Inc. ($4.35 trillion), and Microsoft Corp. ($2.97 trillion).

SpaceX went public on the Nasdaq on June 12. The company conducted an IPO of 555.6 million common shares at a price of $135 per share. At the start of trading, it was valued at $1.77 trillion.

Two days later, SpaceX shares rose to $199.15 per share. Following SpaceX’s IPO, Elon Musk became the world’s first trillionaire.

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