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US inflation rose 4.2% year-over-year in May, marking the highest reading in three years.
Following the SpaceX IPO, Elon Musk's net worth surpassed the combined wealth of the bottom 46% of the global population.
Following the SpaceX IPO, Elon Musk's net worth is greater than the combined wealth of 3.8 billion people in the Southern Hemisphere.
SpaceX began trading under the ticker SPCX with an opening price of $150 per share.
SpaceX's stock opened at $150, an 11% increase from its IPO price of $135, and rose to around $160 on its first day of trading.
Following the SpaceX IPO, Elon Musk's net worth surpassed $1 trillion, making him the world's first trillionaire.
Anthropic and OpenAI are expected to go public following the IPO of SpaceX.
Scott Galloway believes the SpaceX IPO represents the largest transfer of wealth from retail investors to a concentrated group of individuals since the rise of cryptocurrency.
Elon Musk reportedly threatened to not list SpaceX on the NASDAQ unless the exchange waived its 12-month waiting period for inclusion in the NASDAQ 100 index.
While the S&P and Dow Jones refused to waive index inclusion rules for SpaceX, NASDAQ agreed to the waiver.
SpaceX's immediate inclusion in the NASDAQ 100 will force index-tracking funds to allocate 4% of their assets to the stock, creating an estimated $20 billion to $50 billion in artificial demand.
SpaceX issued only 5% of its shares in its IPO, deviating from the traditional rule of issuing at least 10%.