The world's first "trillionaire" on the horizon? Elon Musk's personal stake in SpaceX is about 42%
June 12: Elon Musk may become the first person in history to reach a $1 trillion net worth, as SpaceX is set to go public on the Nasdaq today. A May 20 S-1 registration statement filed with the SEC reveals Musk held a roughly 42% personal stake in SpaceX ahead of its IPO—an ownership share that will dilute to about 40.5% post-listing. Forbes currently estimates Musk’s net worth at $982.6 billion.
In separate revisions to SpaceX’s registration filings last week, the company noted Musk’s total 6.4 billion share holding—including both Class A and Class B shares—will be locked up for 366 days, barring him from selling any of those shares during that period. Other SpaceX executives, however, can begin selling their holdings earlier under a phased unlocking arrangement.
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Pre-IPO Bull vs Bear Debate on SpaceX: Morning Star and the "Valuation Godfather" Deem It Overpriced, While Long-Term Narrative Enjoys Market Optimism
June 12: SpaceX priced its IPO at $135, valuing the company at roughly $1.77 trillion. Below is how top analysts and institutions are weighing in on its post-listing performance, in line with American financial media tone:
Morningstar analyst Nicholas Owens pegs SpaceX’s fair value at around $780 billion—more than 55% below its $1.77 trillion IPO valuation. He calls the stock overvalued for the near to mid-term, noting the early opening could see a brief rally due to low liquidity and its upcoming inclusion in indexes like the Nasdaq 100. Still, Owens advises investors to skip buying at the high opening price, wait for the hype to cool, and enter at a lower point for more attractive long-term returns.
NYU professor and valuation guru Aswath Damodaran puts SpaceX’s equity value at $1.25 to $1.3 trillion—well below its IPO price. He says current pricing is way too high; he’s not buying, nor shorting, but forecasts a big post-listing pullback like Facebook or Uber (which both droppe
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Gensler Joins Industry Group in Filing Court Brief: Prediction Markets Should Not Be Above State Gaming Regulation
June 12 — Former U.S. SEC Chair Gary Gensler argued in a recent court filing that prediction markets should not be classified as financial derivatives under federal law, a designation that would let them bypass state gambling regulations.
The filing was submitted to the U.S. Sixth Circuit Court of Appeals as part of a legal battle between prediction platform Kalshi and the state of Ohio. The central dispute hinges on whether sports event contracts qualify as "swap agreements" subject to federal oversight, or if they fall squarely under state-run gambling rules.
In the filing, Gensler noted that Congress excluded sports entertainment from the definition of swaps in the Dodd-Frank Act. These contracts typically lack the risk-mitigating features of hedging, meaning they shouldn’t be covered by the Commodity Futures Trading Commission (CFTC)’s regulatory purview.
Multiple parties, including U.S. regulatory agencies, Native American tribal groups, and advocacy organization Better Markets
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SpaceX's Market Cap on First Trading Day Aims for Top Ten Global Assets
June 12: SpaceX is set to make its Nasdaq debut today under the stock ticker symbol "SPCX". The company priced its initial public offering (IPO) at $135 per share, raising $75 billion in what will be the largest IPO in history. The offering has attracted multiple oversubscriptions from investors, putting SpaceX’s valuation at approximately $1.77 trillion.
Per the Global Asset Market Value List, Broadcom currently holds the 10th spot among global assets with a market cap of $1.834 trillion. Should SpaceX’s share price stabilize and log a small gain on its first trading day, it will dethrone Broadcom to claim the No.10 ranking, becoming the world’s 10th-largest asset overall – trailing only TSMC, which is valued at $2.183 trillion and currently ranks ninth.
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Suspected Bitmine Withdraws $41 million Worth of ETH from BitGo
On June 12, Arkham Monitor reported that a newly created whale address—0x17A—withdrew roughly $41 million worth of Ethereum from custodian BitGo. The pattern of this fund movement aligns with past buying activity by Bitmine, led by Tom Lee, sparking market speculation over "continued institutional buying."
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