SpaceX's blockbuster public debut pushes Musk to trillionaire status, rivaling Amazon and Nvidia
By
Liam Denning
Hard crust, hollow middle. Skim only.
Summary
The article discusses the highly successful public market debut of SpaceX, which priced at $135 per share and surged nearly 50%, adding over $870 billion in market cap. SpaceX now rivals Amazon at $2.64 trillion, and Elon Musk has become the world's first trillionaire. The piece positions SpaceX as potentially competing with Nvidia, suggesting Musk's space venture is eclipsing even his other company, Tesla, in stock performance.
Key quotes
· 5 pulledFor Elon Musk, the public market debut of SpaceX could hardly have gone better.
It priced at the dictated $135 per share and has since jumped by almost half, adding more than $870 billion in just three trading sessions to an already huge market capitalization.
At $2.64 trillion, Space Exploration Technologies Corp. rivals Amazon.com Inc., the far more profitable technology giant whose chairman is Musk's great rival in rockets, Jeff Bezos.
Along the way, Musk has become the world's first trillionaire.
SpaceX has also well and truly eclipsed Musk's other company with a gravity-defying stock, Tesla.
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