- cross-posted to:
- world@lemmy.world
- cross-posted to:
- world@lemmy.world
SpaceX made the biggest stock market debut in history on Friday after nearly two and a half decades as a private company.
Public trading began around midday with a starting share price of $150, which quickly jumped by a double digit percentage and sent the company’s valuation above $2tn, where it remained through market close.
The company’s initial public offering made the company’s CEO, Elon Musk, the world’s first trillionaire.
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And given that this garbage isn’t profitable and has no hope of becoming profitable, he’s soon to be the world’s first former trillionaire.
No he’ll sell enough to not fall below and leave everyone else’s retirement savings holding the bag. Fucking ghoul.
I fucking hate Musk but in what world is SpaceX unprofitable? If you’re talking about xAI then I’ll agree with you, but with the access to space and starlink/starshield wrapped up in it SpaceX is positioned as the most likely of the AI companies to receive a government bailout when the balloon pops.
The way all the news outlets report on this like it is a good thing someone hoards so much wealth. Just ugh.
After he dies, I really hope the last name Musk becomes as stigmatized as the last name Goebbels
Remind me in 90 days
It’s basically scrooge mcduck at this point.
