SpaceX is set for the largest stock market debut ever.The U.S.
men’s national team, dubbed the “Golden Generation,” kicks off its World Cup campaign today.And Trump names his nominee for director of national intelligence.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.Here’s what to know today.SpaceX set launch a historic stock market debutSpaceX is set to begin trading on the stock market today at a valuation of $1.77 trillion - the largest ever initial public offering.The IPO, which could be a referendum on Elon Musk, is also going to be the latest major test of red-hot demand for the artificial intelligence boom.
Yesterday, the company locked in its final IPO price of $135, making it the largest stock debut ever.02:16What does SpaceX's stock market debut mean for you?00:0000:00The implications of this IPO stretch far beyond the opening trade.For years, SpaceX was largely accessible only to venture capital firms, institutional investors and a small group of private shareholders.
Now, ordinary investors will have their first chance to buy into the company — whether they realize it or not.Recent changes made by major stock exchanges mean SpaceX could be added to passive index funds almost immediately.In addition, buying the stock also means investing by proxy in Musk, the company’s controlling shareholder.
He’s already the world’s richest person but is poised to become the world’s first trillionaire when the company goes public.To put that into perspective, it would take the average U.S.
household nearly 12 million years to accumulate that much wealth.Still can’t wrap your head around how much 1,000,000,000,000 really is? These interactive graphics will help you visualize it.A senior portfolio manager said investors should think of SpaceX not just as a rocket company, but as a combination of its launch business, Starlink satellite internet network and artificial intelligence ambitions.
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