BASTROP, Texas — SpaceX’s historic initial public offering (IPO) on Friday, which raised $75 billion, has sparked celebrations among employees and locals in Bastrop, a small town where the company has a significant presence. The IPO marks the largest in history and has created newfound wealth for many of the approximately 1,600 SpaceX workers employed near Bastrop, a community of around 14,000 residents.

The impact of SpaceX’s growth has been years in the making. Since 2021, Elon Musk has quietly acquired over 1,000 acres across Bastrop and neighboring Travis Counties through a network of private companies. These acquisitions gave rise to what locals have come to call “Elon Land,” a roughly 600-acre compound located about 10 miles northwest of downtown Bastrop. This site hosts SpaceX facilities alongside operations for Musk’s tunneling venture, the Boring Company, which launched its first project in the area, and an operational plant for Starlink, the satellite internet division of SpaceX.

Following the close of trading on Friday, celebrations broke out among SpaceX employees on Elon Land. A group gathered at the Boring Bodega, a multifunctional space adjacent to the Boring Company’s headquarters, comprising a convenience store, bar, and hair salon. Employees, wearing casual attire emblazoned with “YOLO,” shared plans to spend and invest their new wealth, with one announcing intentions to purchase a long-desired Jeep while another considered leveraging locked-up shares as collateral.

The celebration extended outdoors where staff sprayed sparkling wine and cheered, likening the occasion to winning a major sporting event. That evening, many planned to continue commemorations in nearby Austin. However, those interviewed declined media comments, citing company restrictions on speaking publicly following the IPO.

Local businesses, like Found Fine Art gallery in Bastrop, are also anticipating economic ripple effects as employees potentially deploy their gains across the community. Gallery sales associate Alexandria Lagos noted an uptick in interest for artwork favored by SpaceX employees, although actual sales of such pieces remain minimal to date. Gallery owner Jamie Howard expressed cautious optimism about future local investments fueled by the IPO windfall, anticipating a positive financial impact once employees begin to cash out shares.

The transformation of Bastrop from a quiet town to a hub of high-tech industry and wealth has unfolded quickly. What was unimaginable half a decade ago—a bustling enclave tied to a space technology titan—has now become reality, underscoring the broad effects of Musk’s ventures on regional economies and lifestyles.