Elon Musk Becomes First Trillionaire as SpaceX Starts Trading

TrackerFF

The stock, and subsequently the stock market, is so detached from reality. For the life of me, I can’t understand why investors will literally put a 100x premium on Musk, and the things he touches. I feel like I’m living in some alternative universe.

king_zee

I've read somewhere that even some janitors / lunch ladies became millionaires from their shares. Looking then at the great performance of some other stocks, I really wonder where we're headed

LarsKrimi

Congratulations to the US. I'm sure it must be nice to have a trillionaire I wish my country had a trillionaire. That would give my day to day life meaning

tastyface

Musk has killed hundreds of thousands of people with his reckless dismantling of USAID ( https://www.currentaffairs.org/news/how-elon-musk-killed-hun... ) and actively promotes white supremacy and race riots on Twitter. The Georges Ruggiu of social media. Meanwhile, here in our little tech bubble, we pretend it's not happening -- that he's not spending half the day amplifying some of the literal worst people on Earth and blathering about how immigrants are coming to rape our culture. Just focus on the IPO. Don't look behind the curtain. Where is a good chunk of this newfound money going to go? Into the pockets of AfD, Reform, and other far-right monsters around the world. It's all just... abhorrent. Beyond words. Regretfully, I start to understand the state of society that can foment revolution. Never before have I felt such impotent fury at the state of things. I can only hope his career ends as Ruggiu's once did: in shackles in front of an international tribunal.

foo12bar

SpaceX will be listed on QQQ in the next fifteen days. There are only around 4.2% shares publicly available for trading, (about $75 billion out of a $1.75T market cap). This means passive funds that include QQQ will be forced to buy and compete over a very small sliver of the total shares (estimated at around $25 billion) The exchange regulations have just been inexplicably loosened a month ago to allow this circus to happen. Beforehand, a company would have to show profitability and stability and wouldn't be allowed to be listed on an index for at least a year after its IPO. So there is no wonder why the price is as it is. Perfect scam for wallstreet and the little guy get screwed so even better.