BREAKINGVIEWS-SpaceX IPO riches would make robber barons blush

SpaceX

SpaceX

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, June 16 (Reuters Breakingviews) - As his rocket-maker’s shares soar, Elon Musk’s wealth now stands at $1.4 trln. That’s 4% of US GDP, more than double Gilded Age titan John D Rockefeller’s hoard. The power this offers, even over governments, is immense. Yet it may prove more fleeting than empires of old.

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CONTEXT NEWS

SpaceX shares rose as high as $225 on June 16, briefly giving the company a market capitalization of $3 trillion and making it the fourth-largest U.S. firm. The Elon Musk-run rocket-maker went public on June 12 at $135 a share.

On June 16, SpaceX said it would buy Anysphere, the company behind popular AI coding service Cursor, for $60 billion in an all-stock deal.

Musk’s net worth, according to Forbes, stood at $1.4 trillion on the morning of June 16.


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