Money
SpaceX Market Cap Exceeds $3 Trillion on Tiny 4% Float, Elon Musk Gains $500 Billion
The Peter Schiff Show
Every Fed Chair Promises Price Stability… Then Chooses the Printing Press
What was said
"The market cap was over $3 trillion. So I think the net worth of Elon Musk might have been about $1.5 trillion or something like that. I mean, he added like an extra $500 billion to his net worth in a couple of days. Again, all this is on paper."
Schiff reports that SpaceX's market capitalization surpassed $3 trillion following its IPO, with Elon Musk adding approximately $500 billion to his net worth in days. The massive valuation is driven by an extremely limited 4% public float while 96% remains with insiders. Schiff warns this creates meme stock dynamics trading at 120 times revenue that will eventually 'crash back down to earth.'
Verification status
Attributed speaker claim
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Source and context
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- Programme
- The Peter Schiff Show
- Episode
- Every Fed Chair Promises Price Stability… Then Chooses the Printing Press
- Clip time
- 44:46
- Original source
- Watch the source segment →
From this episode
The Peter Schiff Show