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It’s been a big week for Elon Musk.
Screwworms have returned to the US for the first time since the 1960s. A racist mob attacks black families in a massacre in Belfast.
His the biggest The achievement could be that SpaceX, his rocket company, is going public – increasing its estimated valuation by thirteen points.
The world’s richest man is going to become the world’s first trillionaire. and some of that money may be yours.
Some people can get a lot of money from this
Friday, June 12, is the day SpaceX went public, selling 555 million shares at $135 each.
The plan is to raise about $75 billion, which would bring the company’s total estimated value to $1.77 trillion.
This is both the largest IPO in history and a huge risk for investors.
the new York Times warned that analysts have argued that SpaceX is “significantly overvalued.”
SpaceX is not a profitable company. It depends on government contracts and lost billions last year.
Still, many investors act on FOMO.
For other examples, look no further than the investments made in LLM (“AI”) companies over the past few years.
These are worthless projects that don’t generate profits and are a bubble that is doomed to burst (sooner rather than later, please), but investors hope to squeeze out as much profit as possible – and are gambling that they will cut in and run sooner than others when the only tech scam more annoying than NFTs finally collapses.
Say what you want about SpaceX, but even though it doesn’t make any profits, it does provide at least one product or service: rockets.
what governments should be Awarding contracts for space flight to private companies Instead of funding our own rockets and shuttles? no way. But rockets are a real product that perform well in measurable quantities despite their environmental impact. It means something, doesn’t it?
SpaceX will go public tomorrow. It’s a wonderful moment for crazy shills and Patagonia gargoyles to roll in the dirt at the most shady company on the list since Enron. This is the last exit for capital for a minute. A big win for the awesome guys, but a brief victory before a dark era for Silicon Valley
—Ed Zitron (@edzitron.com) June 12, 2026 at 2:17 am
Experts warn that many everyday investors are vulnerable and could suffer losses
Investors are one thing. What about ordinary people who neither like nor trust Musk or his products?
Well, if you have some investment portfolio like a 401(k), you may be out of luck.
See, generally, a company that has just gone public is not included in the top stock indices of the country.
However, at their own request, SpaceX was fast-tracked. This is a bit strange, especially for a company that loses billions annually.
People investing in index fund giants like Fidelity and Vanguard may have accidentally enriched Musk without his knowledge or approval. And taking significant risks in the process.
The massacre in Belfast in which a white nationalist mob attacked people because of their skin color occurred after Musk repeatedly promoted
Musk’s DOGE cut as part of Early months of Trump rule They are already responsible for hundreds of thousands of deaths. One of the many victims was funding for screwworm monitoring, which serves to avoid the exact problem that has now surfaced in two US states (and counting).
Apart from all this, many people are demanding Musk to be prosecuted in The Hague.
It’s a beautiful sentiment, but a little dramatic. There are plenty of courts in the United States (not to mention Northern Ireland and elsewhere) that would work equally well.
The good news is that Musk becoming a trillionaire is mostly a matter of valuation. People speculate that his products have some kind of value, in theory, they estimate how much he is worth. This number may decrease.
The even better news is that no amount of assets actually makes someone immune from prosecution and other legal actions.
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