SpaceX’s massive IPO: all the latest news
Article excerpt
SpaceX went public Friday in a blockbuster IPO that combined its rocket division with Elon Musk's AI and social media operations, a merger that instantly made Musk the world's first trillionaire on paper. The offering raised enough capital to exceed the GDP of countries like Ireland and Sweden, giving ordinary investors their first chance to own a piece of the sprawling enterprise. The listing caps years of speculation about when Musk's private space company would hit the public markets, finally allowing retail shareholders into one of the most valuable private firms ever created.
SpaceX’s IPO on Friday allows the public to buy shares of the combined rocket, AI, and social media company for the first time, and raised enough money to make Elon Musk the first trillionaire.
He has more wealth, on paper at least, than the economies of nations like Ireland, Sweden, or his home country of South Africa (CNN cites the International Monetary Fund saying only 20 countries have economies larger than $1.1 trillion), now linked to the promise of a business based on launching AI datacenters into space.
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