Goldman Sachs and Morgan Stanley to Each Earn $100 Million in SpaceX IPO Fees

[Financial News]  

SpaceX's IPO was a success, and while founder Elon Musk became the world's first 'trillionaire,' lead underwriters Goldman Sachs and Morgan Stanley also struck gold.
The Wall Street Journal (WSJ) reported on the 12th (local time) that Goldman Sachs and Morgan Stanley will each receive $100 million in IPO fees.
SpaceX drew strong demand on its first day of trading on the NASDAQ Stock Market, with its share price surging more than 30% intraday from the offering price.
Musk's net worth has surpassed $1 trillion, and SpaceX instantly rose to sixth place in terms of market capitalization.
According to WSJ, SpaceX's IPO fees are tied to the offering's performance. Sources said the underwriters could collect about $500 million in fees, equal to 0.7% of the $75 billion offering.
Goldman Sachs and Morgan Stanley will split $200 million of that amount, or 40%, receiving $100 million each.
BofA, Citigroup, and JPMorgan Chase & Co. are also expected to each receive $75 million.
The remaining underwriter banks are expected to receive fees of less than $10 million each.

dympna@fnnews.com Song Kyung-jae Reporter