Elon Musk is about to become the first trillionaire in history and he can't spend almost any of it.
This is the part that breaks people's brains.
His net worth will cross $1 trillion when SpaceX IPOs on June 12th. But roughly 90% of that is stock he can't sell without crashing the price, triggering regulatory investigations, and losing voting control of his own companies.
He once said in a deposition that he borrows money against his Tesla shares to pay for basic living expenses. The richest man on earth takes out loans to buy dinner.
When he acquired Twitter for $44 billion, he had to sell $23 billion in Tesla stock over several months. Tesla's stock dropped 65% partly because of those sales. He made himself $100 billion poorer to buy a social media company.
His ex-wife Justine said something about this that stuck with me: "He doesn't think about money the way normal people do. To him money is just fuel. You put it into the rocket and it's gone. The point was never the fuel. The point was always the destination."
In two weeks he'll officially hold more wealth than any human who has ever lived. And he'll still be borrowing against it to pay for things normal people buy with a debit card.
The world's first trillionaire is technically in debt.
That's the part they don't put in the headlines.
I trenched the whole 2024 year
Made around 70,000 SOL when it was ranging around $120
Held it all and sold when trump dropped at $290 for around $21m
Then I got an insider info from alon
So I bought $20m of PUMP at pico bottom
Sold it all at .8 for a 3x
Made $60m
I was worth around $65m by that time
Then I saw what’s happening with HYPE
Full ported when it dipped to $18
I’m still holding my full bag till this day
It’s currently worth $230m
And every day it goes higher
I’m aiming to be a billionaire by next year
Then i woke up
A message for my $TSLA friends eyeing the SpaceX IPO $SPCX.
I traded $TSLA for years. I know the community. I know the excitement when Elon takes something public. But before you chase @SpaceX at $1.75 trillion, read the S-1 carefully.
SpaceX doesn't need your money.
They raised at $800B in private tenders six months ago. They could raise $50B privately tomorrow with a phone call. This IPO isn't about raising capital. It's about giving insiders liquidity.
95% of @SpaceX shares are held by insiders. Only 5% will be publicly traded. Insiders hold $1.66 trillion in paper wealth they currently can't sell. The IPO changes that.
And they've structured it so insiders can sell BEFORE the standard 180-day lock-up expires. @SpaceX built in early release provisions -- after the first earnings report, insiders can sell up to 20% of their shares.
They're also reserving 30% of IPO shares for retail. Ask yourself -- when has Wall Street ever given retail the best seats in the house unless retail was the product?
100x revenue.
$4.9B net loss.
xAI burning $6.4B a year while @Starlink subsidizes it.
This isn't 2020 Tesla at 20x revenue with a clear path to profitability. This is a different risk profile.
Now here's the part I want you to actually consider.
SpaceX's S-1 sizes their satellite-to-phone business (Starlink Mobile) at a $740 billion TAM. Their Connectivity segment does $11.4B at 63% EBITDA margins. Those numbers are real and impressive.
But buried in the S-1, @SpaceX names their D2D competitor: $ASTS .
@AST_SpaceMobile $40 billion market cap.
Not $1.75 trillion. $40 billion.
Here's what $40B buys you:
98.9 Mbps proven from space to unmodified phones (SpaceX does 3-5 Mbps)
The only low-band D2D spectrum access on Earth (indoor coverage SpaceX can't match)
All three US carriers forming a joint venture around ASTS technology
Google invested $358M
their largest public equity holding
AT&T, Verizon, Vodafone as equity investors
$3.5B cash, $1.2B contracted backlog
3,900 patents, custom ASIC in production
Three satellites launching on a Falcon 9 next month
60 carrier partners covering 3 billion subscribers
@SpaceX at $1.75T is pricing perfection across rockets, satellites, AI, and Mars. One miss and it corrects hard.
$ASTS at $40B is pricing uncertainty in a $740B market where the technology is already proven and the carriers have already chosen sides.
The Tesla community knows what it feels like to find a mispriced stock before the world catches on. $TSLA at $30 pre-split wasn't obvious to anyone except the people who did the work.
$ASTS at $106 in a $740B market with 33x faster speeds than SpaceX D2D, a carrier JV, and institutional discovery just beginning -- that's the same kind of setup.
So before you throw money at a $1.75T IPO where insiders are building exit ramps, maybe look at the $40B competitor they named in their own filing.
Not financial advice. Just math.
$ASTS 🛰️
cc @SawyerMerritt@unusual_whales@DanBTC916
> be Kimi
> nobody outside China pays attention
> everyone paying $200/month for Claude
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> drop K2.6
> 300 sub-agents. 4,000 steps simultaneously.
> 12 hours continuous execution. zero human oversight.
> beats Claude Opus 4.6 on SWE-Bench Pro
> open weights. free.
> Vercel: "50%+ improvement on our benchmark"
> while everyone was paying for closed models
> Kimi was quietly becoming the infrastructure
> different game.
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