# SpaceX IPO Makes Musk First Trillionaire While Critics Call It Wealth Transfer - URL: https://twotakes.us/stories/spacex-ipo-makes-musk-first-trillionaire-while-critics-call-it-wealth-transfer - Published: 2026-06-12T19:14:02.044008+00:00 - Topics: spacex, ipo, wealth-inequality, elon-musk, stock-market ## What the left says - Musk's wealth accumulation represents a massive transfer from everyday investors to insiders, as he convinced Nasdaq to bypass normal waiting periods and expose retirement savers to potentially overinflated stock prices - The trillionaire milestone exemplifies extreme wealth inequality and a new Gilded Age, where one person's fortune rivals entire nations' economic output while most Americans struggle financially - SpaceX's success relies heavily on government subsidies, contracts, loans, and publicly-funded research, making Musk essentially a 'welfare trillionaire' who profits from taxpayer investments - The IPO forces ordinary Americans' retirement funds and index investments to buy AI stocks regardless of their wishes, binding their financial futures to risky technology speculation ## What the right says - Musk's achievement demonstrates the power of American innovation and free-market capitalism, creating thousands of new millionaires among SpaceX employees who chose to work for equity - The IPO represents a rising tide lifting all boats, as former welders and other workers become wealthy through smart career choices and belief in the company's mission - SpaceX's success validates investment in ambitious technological advancement and space exploration, positioning America as the leader in the next frontier of human civilization - The market's enthusiastic response reflects genuine confidence in SpaceX's profitable Starlink division and revolutionary potential for space-based AI infrastructure ## Common ground - SpaceX completed the largest IPO in history, raising $75 billion and achieving a market valuation exceeding $1.7 trillion - The offering made Elon Musk the world's first trillionaire and created thousands of new millionaires among current and former SpaceX employees - SpaceX stock opened at $150 per share, significantly above the $135 IPO price, and continued rising throughout the first day of trading - The company's business includes profitable Starlink satellite internet services alongside ambitious plans for Mars colonization and space-based data centers ## Sources - [CBS News](https://www.cbsnews.com/news/spacex-stock-price-ipo-spcx-initial-public-offering/) (Lean Left) - [CBS News](https://www.cbsnews.com/news/spacex-spcx-stock-ipo-welder-employee-millionaire/) (Lean Left) - [CBS News](https://www.cbsnews.com/video/key-details-on-the-spacex-ipo-that-made-elon-musk-a-trillionaire/) (Lean Left) - [CBS News](https://www.cbsnews.com/news/elon-musk-spacex-ipo-trillionaire-wealth/) (Lean Left) - [CBS News](https://www.cbsnews.com/video/spacex-plans-expansions-in-south-texas-amid-massive-ipo-launch/) (Lean Left) - [Daily Caller](https://dailycaller.com/2026/06/12/spacex-ipo-2-trillion-market-cap-musk-trillionaire/) (Right) - [Democracy Now](http://www.democracynow.org/2026/6/9/elon_musk_spacex_ipo) (Left) - [Just The News](https://justthenews.com/politics-policy/finance/spacex-shares-over-20-opening-price-ceo-elon-musk-becomes-worlds-first?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators) (Right) - [NBC News](https://www.nbcnews.com/business/markets/spacex-ipo-stock-price-rcna349760) (Lean Left) - [New York Times](https://www.nytimes.com/2026/06/12/technology/elon-musk-trillionaire.html) (Lean Left) - [New York Times](https://www.nytimes.com/2026/06/12/opinion/elon-musk-spacex-starbase-texas.html) (Lean Left) - [NPR](https://www.npr.org/2026/06/12/nx-s1-5855004/stock-ai-spacex-ipo-elon-musk) (Lean Left) - [PBS NewsHour](https://www.pbs.org/newshour/economy/elon-musk-could-become-the-worlds-first-trillionaire-with-spacexs-ipo) (Lean Left) - [PBS NewsHour](https://www.pbs.org/newshour/show/why-spacex-is-rocketing-toward-largest-ipo-in-stock-market-history) (Lean Left) - [RealClearPolitics](https://www.realclearpolitics.com/2026/06/12/musks_a_trillionaire--on_paper--as_spacex_ipo_takes_off_702407.html) (Center) - [RealClearPolitics](https://www.realclearpolitics.com/2026/06/12/spacex_ipo_is_a_bet_on_human_ingenuity_702398.html) (Center) - [RedState](https://redstate.com/wardclark/2026/06/12/spacex-ipo-windfall-employees-eye-rolexes-and-private-jets-n2203299) (Unknown) - [RedState](https://redstate.com/ben-smith/2026/06/12/elon-musk-becomes-the-first-trillionaire-in-human-history-the-lefts-response-was-immediate-n2203295) (Unknown) - [RedState](https://redstate.com/wardclark/2026/06/12/so-i-placed-a-new-buy-order-for-some-spacex-stock-n2203288) (Unknown) - [Slate](https://slate.com/podcasts/what-next-tbd/2026/06/why-spacexs-ipo-could-set-records?via=rss) (Lean Left) - [The Guardian US](https://www.theguardian.com/commentisfree/2026/jun/12/spacex-ipo-elon-musk-trillionaire) (Left) - [The Guardian US](https://www.theguardian.com/business/2026/jun/12/ai-ipos-stock-market) (Left) - [The Hill](https://thehill.com/policy/technology/5921862-elon-musk-spacex-trillionaire/) (Center) - [The Hill](https://thehill.com/policy/technology/5920813-elon-musk-poised-to-become-worlds-first-trillionaire-with-spacex-ipo/) (Center) - [The Nation](https://www.thenation.com/article/economy/elon-musk-space-x-ipo-inequality/) (Left) - [The Nation](https://www.thenation.com/article/politics/elon-musk-trillionaire-spacex-public-investment-government-subsidies-public-ownership/) (Left) - [Townhall](https://townhall.com/tipsheet/dmitri-bolt/2026/06/12/elon-musk-just-became-the-worlds-first-trillionaire-the-socialists-are-already-whining-n2677668) (Right) - [Townhall](https://townhall.com/tipsheet/dmitri-bolt/2026/06/12/elon-musk-gives-a-speech-as-spacex-is-set-to-go-public-n2677659) (Right) --- Content by TwoTakes (https://twotakes.us). 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