00:00The moment Wall Street has been anticipating all year is finally here and with a bang,
00:06as SpaceX began trading publicly on the Nasdaq in what has by some margin become the largest
00:11initial public offering in the history of financial markets.
00:16The Space Exploration Company opened its initial trading at $150, more than 10% above its IPO
00:23price of $135. But within just minutes of the IPO, shares were already quickly trading at close
00:30to $170. The company led and controlled by the world's richest man, Elon Musk, made available
00:38$555.6 million worth of Class A shares, valuing the company at a staggering $1.78 trillion.
00:47Speaking at the launch of the successful IPO, Musk admitted that he wouldn't believe that a company
00:52founded in a warehouse in El Segundo in 2002 would reach these heights.
00:57And let me tell you, if people had told me this was going to happen, I was like, man,
01:03you must be smoking some really good crack. Because I think this company is going to fail.
01:11I mean, I gave SpaceX less than a 10% chance of succeeding at all, to be clear.
01:25SpaceX going public has enriched Musk some $200 billion overnight, pushing him into uncharted
01:31trillionaire territory, according to Forbes' valuation, at a net worth of $1.1 trillion.
01:36The company is expected to be fast-tracked into the Nasdaq 100 stock index, consisting of 100 of the
01:44largest and most actively traded non-financial companies listed on the New York-based exchange.
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