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,
00:09in what has by some margin become the largest initial public offering in the history of financial markets.
00:16The Space Exploration Company opened its initial trading at $150,
00:21more than 10% above its IPO price of $135.
00:25But within just minutes of the IPO, shares were already quickly trading at close to $170.
00:32The company led and controlled by the world's richest man, Elon Musk,
00:37made available $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,
00:49Musk admitted that he wouldn't believe that a company founded in a warehouse in El Segundo in 2002 would reach
00:56these heights.
00:57And let me tell you, if people had told me this was going to happen,
01:02I was like, man, you must be smoking some really good crack.
01:07Because I think this company is going to fail.
01:12I mean, I gave SpaceX less than a 10% chance of succeeding at all, to be clear.
01:24SpaceX going public has enriched Musk some $200 billion overnight,
01:29pushing him into uncharted trillionaire territory, according to Forbes' valuation,
01:34at a net worth of $1.1 trillion.
01:37The company is expected to be fast-tracked into the Nasdaq 100 stock index,
01:42consisting of 100 of the largest and most actively traded non-financial companies listed on the New York-based exchange.
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