The SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply | Robert Reich

Source: www.theguardian.com · Section: headlines · Bias: Center-Left · Published: Fri, 12 Jun 2026 17:40:36 GMT

The economic principles taught in school aren’t as relevant as hype, connections and total, arbitrary controlShare your views on SpaceX’s stock market debutElon Musk is now the world’s first trillionaire, after his SpaceX exploration and satellite company went public on the Nasdaq on Friday.With shares priced at $135 each, Musk’s aerospace and satellite maker soared to an overall market valuation of approximately $1.77tn – which raised Musk’s net worth (which had already hovered at the astronomical $813bn) into the $1tn stratosphere. Continue reading...

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The same story across the political spectrum (15 sources)

Center-Left: SpaceX to list on US stock market at historic $1.77tn valuation — www.theguardian.com
Center-Left: SpaceX raises $75 billion in its IPO — www.axios.com
Center-Right: Trillionaire Elon Musk make history with SpaceX IPO: Five takeaways — thehill.com
Center-Left: SpaceX shoots 19% higher in first day of trading — www.axios.com
Right: The first trillionaire: SpaceX goes public — and it's not just Elon Musk who's striking it rich — www.theblaze.com
Center-Right: Elon Musk becomes first trillionaire after SpaceX’s blockbuster IPO — www.washingtonexaminer.com
Right: SpaceX makes historic debut; Musk solidifies status as world’s first trillionaire — www.foxbusiness.com

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