SpaceX's strategy for this IPO is: 'limited supply.' They're only offering a tiny 4.88% of shares to create a sense of scarcity and push the valuation sky-high. $85.7 billion gets you less than 4.88% ownership of the company. Meanwhile, Musk and the early shareholders haven’t touched their 95% stake, but their net worth has already skyrocketed to the moon along with the market cap.