Alex Ossola

It's Thursday, June 11th.

I'm Alex Osola for The Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

SpaceX this afternoon disclosed that it has sold the more than 555 million shares in its IPO at $135 apiece, giving it a valuation around $1.77 trillion.

And investors have lined up.

The journal has learned that the asset manager BlackRock has put in an order to buy at least $5 billion worth of SpaceX shares.

Other big investment firms have also submitted eye-popping orders.

These companies often buy large stakes and IPOs, but these orders are much bigger than normal.

The journal understands that individual investors alone requested over $70 billion worth of SpaceX shares.

Investors typically aim big with their orders for an IPO, knowing that they're unlikely to get their full requests when a company is in high demand.

The record-breaking offering has now officially raised $75 billion for the company.

Elon Musk is now poised to become the world's first trillionaire.

And one of Musk's friends and a longtime investor in SpaceX stands to get the second biggest payday.

Antonio Gracias joined the board of SpaceX in 2010.

He also served on the Tesla board for 14 years.

Gracias and his firm Valor Equity Partners will own 6.7% of SpaceX's Class A shares, a $68 billion stake.

Gracias and Musk's relationship goes beyond business.

The two have partied together, the Wall Street Journal has reported, and they have traveled together with their families to Europe, the Caribbean, and Africa.

Gracias was also a groomsman at the wedding of Musk's brother.

In other banking news, we're exclusively reporting that Citigroup is establishing a new way for its wealthy and institutional clients to trade shares of private companies.