The SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply | Robert Reich
The economic principles taught in school aren’t as relevant as hype, connections and total, arbitrary controlShare your views on SpaceX’s stock market debutElon Musk is now the world’s first trillionaire, after his SpaceX exploration and satellite company went public on the Nasdaq on Friday.With shares priced at $135 each, Musk’s aerospace and satellite maker soared to an overall market valuation of approximately $1.77tn – which raised Musk’s net worth (which had already hovered at the astronomi
The SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply | Robert Reich
Overview
The economic principles taught in school aren’t as relevant as hype, connections and total, arbitrary control
Elon Musk is now the world’s first trillionaire, after his SpaceX exploration and satellite company went public on the Nasdaq on Friday.
Details
With shares priced at $135 each, Musk’s aerospace and satellite maker soared to an overall market valuation of approximately $1.77tn – which raised Musk’s net worth (which had already hovered at the astronomical $813bn) into the $1tn stratosphere.
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Originally published at www.theguardian.com.
