The SpaceX IPO made Musk a trillionaire. The old rules of capitalism no longer apply | Robert Reich

<p>The economic principles taught in school aren’t as relevant as hype, connections and total, arbitrary control</p><ul><li><p><a href="https://www.theguardian.com/science/2026/jun/12/spacex-stock-market-debut">Share your views on SpaceX’s stock market debut</a></p></li></ul><p>Elon Musk is now the world’s first trillionaire, after his SpaceX exploration and satellite company went public on the Nasdaq on Friday.</p><p>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.</p> <a href="https://www.theguardian.com/commentisfree/2026/jun/12/spacex-ipo-elon-musk-trillionaire">Continue reading...</a>

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