SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply(theguardian.com)
theguardian.com
SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply
https://www.theguardian.com/commentisfree/2026/jun/12/spacex-ipo-elon-musk-trillionaire
7 comments
It's a Baron Munchausen effect of modern money.
rewarding huge advances in space tech and the companies that make them isn’t broken capitalism. that’s pretty much how the system is supposed to work.
The bulk of the SpaceX valuation has nothing to do with the rocketry business.
In capitalism, huge advances are reflected in revenue, profit, and growth. None of which support the SpaceX valuation. The evaluation looks like Marco Rubio's shoes. SpaceX ain't never growing into its price.
Just for artistic symmetry, it feels like a Tesla merger is fated, just to prove that several quarters of stagnation can't dent a P/E ratio based on unicorns farting rainbows.
Just for artistic symmetry, it feels like a Tesla merger is fated, just to prove that several quarters of stagnation can't dent a P/E ratio based on unicorns farting rainbows.
markets bet on future wins, not just today's money. space is a very long game.
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Liens from at least 29 in South Texas over work on Starbase have more than doubled.
https://eedition.houstonchronicle.com/infinity/article_popov...