SpaceX Blasts Off with Record-Shattering Valuation

SpaceX successfully launched its Starship rocket on July 24 from Brownsville, Texas, marking the 13th test flight of the program and the first launch since the company's record-shattering IPO six weeks prior. The mega-rocket lifted off at approximately 6:45 PM ET with a planned re-entry and landing in the Indian Ocean roughly an hour later.

The June 12 IPO raised about $75 billion at $135 per share, valuing the company at roughly $1.77 to $1.8 trillion, making it the largest IPO in history. This milestone has already caught the attention of crypto platforms, which are now offering tokenized versions of SpaceX shares, bridging the gap between one of the most watched public listings ever and the digital asset ecosystem.

The Starship program has been iterating since 2023, collecting data to eventually use Starship for satellite deployment, crewed missions, and its long-stated Mars ambitions. However, even trillion-dollar companies like SpaceX still face engine problems, as seen in a scheduled July 16 attempt that was scrubbed due to engine issues.