Elon Musk’s net worth exceeds US$1 trillion on SPACEX IPO

caleb gibbons Follow Me

Posted this 2026-06-15 11:28 AM ADT

https://open.substack.com/pub/calebgibbons/p/spacex-we-have-lift-off-ipo-6122026?r=3607n&utm_medium=ios

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Mathew Georghiou Follow Me 2026-06-15 12:04 PM ADT Reply 0 0 I would have been more excited about this IPO were it not for the tiny 5% float offered publicly and by what appears to be a shady effort to change Stock Index Fund rules to immediately include a new and unproven listing in the Index. Doing so suggests that the money of average people is purposely being put at much higher risk so that insiders can earn more profit faster. But perhaps my assessment is wrong?
caleb gibbons My Post Follow Me 2026-06-15 12:13 PM ADT Reply 1 0 Matthew, The IPO process is the exit for large institutional investors. Ontario Teachers is in their 7th year of ownership. Alphabet invested in 2015 and on their "earnings" calls tout their paper wealth in their SpaceX holding (which the stock market applies a multiple to!). This is a case of feeding the ducks when they are quacking (retail investors). Your caution is warranted! Many think that Anthropic might be the only blockbuster IPO this year that will be able to hold > the IPO price after 6 months of trading. Cheers, Caleb Mathew Georghiou Follow Me 2026-06-15 2:00 PM ADT Reply 1 0 For sure, an IPO is an accepted way to allow early investors to materialize their gains. No problem with that — that's how it's supposed to work. My worry is when the IPO structure is purposely manipulated to temporarily inflate profits so insiders can cash out big, while the new unsuspecting retail investors are going to fund those inflated profits with their losses. I'm hoping I'm wrong, but ... caleb gibbons My Post Follow Me 2026-06-15 2:59 PM ADT Reply 1 0 The scant float can be a thumb on the scale for sure! As a cap weighted index the Nasdaq-100 bid will be strong for a $2 trillion mkt cap newly add to the index. It was added today. Stop loss a good risk management tool on a position in SpaceX!

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Mathew Georghiou Follow Me 2026-06-15 12:04 PM ADT

Reply 0 0

I would have been more excited about this IPO were it not for the tiny 5% float offered publicly and by what appears to be a shady effort to change Stock Index Fund rules to immediately include a new and unproven listing in the Index. Doing so suggests that the money of average people is purposely being put at much higher risk so that insiders can earn more profit faster. But perhaps my assessment is wrong?

caleb gibbons My Post Follow Me 2026-06-15 12:13 PM ADT

Reply 1 0

Matthew, The IPO process is the exit for large institutional investors. Ontario Teachers is in their 7th year of ownership. Alphabet invested in 2015 and on their "earnings" calls tout their paper wealth in their SpaceX holding (which the stock market applies a multiple to!). This is a case of feeding the ducks when they are quacking (retail investors). Your caution is warranted! Many think that Anthropic might be the only blockbuster IPO this year that will be able to hold > the IPO price after 6 months of trading. Cheers, Caleb

Mathew Georghiou Follow Me 2026-06-15 2:00 PM ADT

Reply 1 0

For sure, an IPO is an accepted way to allow early investors to materialize their gains. No problem with that — that's how it's supposed to work. My worry is when the IPO structure is purposely manipulated to temporarily inflate profits so insiders can cash out big, while the new unsuspecting retail investors are going to fund those inflated profits with their losses. I'm hoping I'm wrong, but ...

caleb gibbons My Post Follow Me 2026-06-15 2:59 PM ADT

Reply 1 0

The scant float can be a thumb on the scale for sure! As a cap weighted index the Nasdaq-100 bid will be strong for a $2 trillion mkt cap newly add to the index. It was added today. Stop loss a good risk management tool on a position in SpaceX!

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Elon Musk’s net worth exceeds US$1 trillion on SPACEX IPO

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