Multitrillion-dollar SpaceX IPO will make scores of multimillionaires — how they’ll spend the cash revealed
Forget about the box-office, the SpaceX IPO is set to be this week’s biggest blockbuster, including for some Hollywood insiders.
One old guard member of the upper-upper-crust huffed of the next wave of about-to-be newly minted billionaires to us: “People are planning out their lives [based on the IPO]. There will be so many more with billions.”
Elon Musk‘s company has so far been held by the flashy tech bro and his private investors. The rapper 2 Chainz has said he was an early SpaceX investor as has short-lived White House comms director and hedge funder Anthony Scaramucci.
There’s also plenty of buzz around town about which showbiz players and Musk pals have shares, too, and are about to cash in.
It’s been reported that SpaceX will raise at least $75B when it sells 556 million shares at $135 a pop — that would value the company at over $1.75 trillion. The company is expected to start trading on Friday on the Nasdaq as “SPCX.”
The boom could have major ripple effects. “Just look at the price of Knicks tickets,” quipped one top investor.
The new big money could flow to art, real estate and high, high-end toys like planes and boats, including, “the housing markets in San Francisco and, to a lesser extent, LA, as well as Miami at the high-end for the ultra rich,” a source said.
A top art insider told us that even before the IPO: “We’ve already seen the art markets blow up in the last few weeks — there is a lot of liquidity in the system because of tech companies, and the three giant IPOs back-to-back,” meaning SpaceX, OpenAI and Anthropic. “You can’t bet against the fact that there’s going to be newly minted people with liquidity.”
A high-net-worth insider relates, “The airplane market has gone crazy in the last two months, the boat market has gone crazy, the art market has exploded again. This is way beyond luxury goods. What’s relevant now are these large ticket items: houses, boats, planes. Prices in SF are setting records every day, they’re going through the roof.”
At a roadshow last week, JPMorgan CEO Jamie Dimon called the Tesla mogul, “the Edison of our time.” The Post’s Charles Gasparino wrote that small investors with dough in index funds could be “left holding the bag” in the case of a future correction.
