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Elon Musk Becomes First Trillionaire as SpaceX Starts Trading
- TrackerFF 4mo agoThe 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.
- __patchbit__ 4mo agoSpaceX will cocoon the planet with next level new accelerated technology the way baseload grid electricity supply took 300 years to achieve.
- tennfown 4mo ago[flagged]
- AnimalMuppet 4mo agoIn a word, baloney. What, exactly, is the "next level new accelerated technology"? That's a lot of hype-y buzzwords, but what does it mean? What's the actual technology? Starlink? I mean, we already have internet. Is Starlink that much better, to deserve this glowing description? Or is it some other tech? If so, what is it? If you can write that glowingly, can you put some substance behind it? Or is it just hype?
- elpocko 4mo ago[flagged]
- hdhdhsjsbdh 4mo agoYou seem to live in the real reality, and presumably people care about what you think there because it’s actually real. So why not enlighten us, help explain it to us deluded people? Or you can just be rude and vague.
- deleted 4mo ago[deleted]
- small_model 4mo ago[flagged]
- TrackerFF 4mo agoI live in a country (Norway) which has been a early-adopter market for EVs. In 2014 Tesla cars were endemic, you could see them everywhere. I was a big believer in Tesla cars. But things obviously changed. We're still a lead market as far as Tesla sales go, but right now it is just another car. There's absolutely no rationale to automatically go for Tesla. Which is why I find it incredibly difficult to see how Tesla is valued. The Tesla market cap is more than all other EV producers combined. Musk evangelists will now yell "Self-driving cars! AI! Robotaxi!", and rationalize that the value behind Musk is potential. The potential that his products will be some fantastical thing in the future.
- kcb 4mo ago> In 2014 Tesla cars were endemic, you could see them everywhere Tesla sells like 8x the number of cars in Norway today than they did in 2014.
- cosmicgadget 4mo ago5% float and index inclusion. Basically controlling both the supply and demand levers.
- rendang 4mo agoIf you're right, that's great news for you, as you can make tons of money buying Spacex puts
- UncleMeat 4mo agoNot if people continue to have the 100x premium on Musk. Puts only make sense if the market returns to rationality.
- echoangle 4mo agoMarkets can remain irrational longer than you can remain solvent. - John Maynard Keynes
- eudamoniac 4mo agoThis quote refers to shorting; it's not applicable to every bear position anyone ever attempts to take. You won't go insolvent buying puts.
- echoangle 4mo agoYou won’t go insolvent but you’ll consistently lose money every time the stock doesn’t go down.
- eudamoniac 4mo agoYep, and if you buy stocks you'll consistently lose money when the stock doesn't go up.
- echoangle 4mo agoOnly in opportunity cost, if you buy puts you actually lose dollars.
- moralestapia 4mo agoWhat a great quote man. First time I read something like this. And thanks for crediting the author, now I can go learn more about him.
- newaccountman2 4mo agoThere is no reason to be surprised investors aren't always that rational, though it is weird how extra giddy they are to simp for Musk in particular. Company literally does not make money, and his other major company is getting dumpstered in its market too.
- Dig1t 4mo agoHave you watched a Starship launch? The more I understand the incredible feats of engineering they are performing the more bullish I become.
- newaccountman2 4mo agoIt doesn't make money. https://www.youtube.com/watch?v=-X6YzlY_8tM https://www.youtube.com/watch?v=-X6YzlY_8tM
- Dig1t 4mo agoStarship is still in development. Do you think the next generation of the iPhone is a waste of time because it doesn't make money yet? The stock price reflects the potential of the business in the future as well as its current concrete value.
- tonyhart7 4mo ago"It doesn't make money." if that's the reason, why people invest in amazon then since Amazon literally need 20 years for that company to be profitable because they are not targeting dividend that's why, they expect the exponential growth by re-investing profit to grow the business at scale we literally live in YC subs where (almost)every startup isn't profitable either but VC still invest, I wonder why you write this
- tastyface 4mo agoStarship and anything space related is like 5% of the valuation.
- TrackerFF 4mo agoSpace X is first and foremost being valued on their AI data centers.
- iancmceachern 4mo agoWhich make no physics sense
- elpocko 4mo ago[flagged]
- Chinjut 4mo agoThe stock market is not definitionally "reality" in the sense being used. It's perfectly fine to look at the stock market and consider it "detached from reality", in the sense being said.
- deleted 4mo ago[deleted]
- legitster 4mo agoSpaceX had this similar mystique to where owning a private share was something rich people bragged about like having a rare Lamborghini. A lot of these modern bubble stocks are underpinned by a bunch of intangible collectibility reasons that realistically only exist because of a huge cash glut in the US stock market. Maybe it goes on for a long time, but realistically as baby boomers start drawing down on their retirement portfolios and/or dying there's reason to believe money will start leaving the markets in the next 20ish years.
- deleted 4mo ago[deleted]
- king_zee 4mo agoI'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
- elAhmo 4mo agoI would be surprised if janitors get shares. This is Musk we’re talking about.
- porridgeraisin 4mo agoSpacex gave lots of low level employees stocks. Either on top of, or as a payroll deduction ESPP.
- tonyhart7 4mo agoits janitor at first but he climbs into engineering team
- sgerenser 4mo agoI’ve never worked at any large company where janitors/cleaning staff were employees. Usually that kind of work is contracted out.
- sourcecodeplz 4mo agoSomething like ~500 new millionaires is what i've read on x.
- indoordin0saur 4mo agoIt was actually 4500, but that was at the $135 price. With it having gone up 40% that number might now be more like 6500.
- e12e 4mo agohttps://www.nytimes.com/2026/06/10/technology/spacex-ipo-employee-millionaires.html https://www.nytimes.com/2026/06/10/technology/spacex-ipo-emp...
- LarsKrimi 4mo agoCongratulations 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
- Dig1t 4mo agoIt's not like his checking account has $1T in it, this is just a technicality that sums up all of the hypothetical value of the shares he owns in companies. If he actually tried to sell it and turn it into cash it would be less than $1T.
- Chinjut 4mo agoIf it's so worthless, let me have it instead of him.
- legitster 4mo agoIt's more like "he was already rich before, but now more of his wealth is countable".
- cosmicgadget 4mo agoYeah but he can borrow against it and not pay any taxes.
- lovecg 4mo agoDo people do that? Can I e.g. borrow against my assets and not pay any taxes? Curious to learn more.
- cosmicgadget 4mo agoI mean people get mortgages and carry credit card balances and do margin trading and get helocs. If those are taxable I might need to call the IRS. For the uber rich it is called "buy-borrow-die". And this is why the idea of a wealth tax has so many tres comas types up in arms.
- tastyface 4mo agoMusk has killed hundreds of thousands of people with his reckless dismantling of USAID (https://www.currentaffairs.org/news/how-elon-musk-killed-hundreds-of-thousands-of-people 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.
- sidibe 4mo agoIt'll end in suicide or OD. Every time he pulls off a coup like forcing huge indices to buy and hold massive amounts of $80 billion float he delays the inevitable but in the end his puffery will collapse at some point. I feel second hand embarrassment for all the bankers and analysts who have felt the need to pump this
- tastyface 4mo agoI think he's steadily working towards "too big too fail": make the entire US economy depend on his rat's nest of a megacorp, plus miltech/policetech (SpaceX, Grok).
- tastyface 4mo agoFor example: https://www.wired.com/story/doj-lawyers-argue-xai-vital-national-security-naacp-lawsuit/ https://www.wired.com/story/doj-lawyers-argue-xai-vital-nati...
- iioiio 4mo ago[flagged]
- foo12bar 4mo agoSpaceX 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.
- widowlark 4mo agothe level of cynicism being communicated on this thread is astounding!
- ivell 4mo agoLooking at the figures, I think it is justified.