SpaceX’s IPO sparks megacap buzz as Musk edges toward trillionaire status
TL;DR
SpaceX’s public debut has investors buzzing about a megacap valuation, but Morningstar says the deal is significantly overvalued at about $780 billion, far below its IPO price. Musk’s fortune has surged from Zip2 and PayPal into SpaceX and Tesla stock, putting him onto a paper trillionaire path; however, governance concerns (super voting shares) and other IPO terms have some investors wary as Nasdaq moves to broaden SpaceX’s index-fund inclusion.
- SpaceX opens 11% higher at $150 a share and makes Musk the first trillionaire AP News
- SpaceX IPO live updates: Elon Musk's SpaceX opens at $150 per share in record debut as Dow, S&P 500, Nasdaq rise Yahoo Finance
- Jim Cramer calls this chipmaker his No. 1 stock — and sees 63% upside ahead CNBC
- SpaceX IPO makes Elon Musk the world's first trillionaire Reuters
- SpaceX IPO: What Time Does SPCX Debut On The Stock Market? (Live Updates) Forbes
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