BREAKING: SpaceX is set to IPO on June 12 at a $1.77 trillion valuation.
$75 billion raise. $135 a share. Ticker SPCX on the Nasdaq.
If it prices at those numbers, it will be the largest IPO in human history.
And the math behind it should make every retail investor stop and think.
Here's what's actually being priced in, and what nobody on finance Twitter is telling you:
SpaceX generates roughly $15 billion in annual revenue.
A $1.77 trillion valuation on that is a price-to-sales ratio of 118x.
For context, traditional aerospace companies trade at 2x to 6x sales.
Big Tech mega-caps generally trade between 10x and 30x sales.
Nvidia, in the middle of the most hyped AI buildout in history, sits well below 118x.
The SpaceX IPO would price the company at roughly 4x the sales multiple of the most expensive megacap on the board.
That is not pricing a company.
That is pricing a thesis.
The thesis goes like this:
Starlink becomes the dominant global ISP, sitting above every legacy telecom on the planet.
Falcon 9 and its successors hold a near-monopoly on orbital launches.
Starship unlocks lunar contracts, defense logistics, space manufacturing, and eventually Mars.
All three play out. Over decades. Without major execution failures.
If every assumption hits, the bull case Ron Baron has floated puts SpaceX at $10 trillion to $30 trillion in future market cap.
That is what you're actually buying at $135 a share.
Not a $15 billion revenue business.
A 20-year compound bet that one company dominates three separate industries simultaneously.
Now here's the part the headlines are skipping.
Pre-IPO investors who got in during the December 2025 tender offer paid the equivalent of $84 a share after the 5-for-1 split.
Insiders have a $3.75 billion share allocation with no lockup. They can sell on day one.
Retail gets 30% of the public float at $135.
That is 3x the normal mega-cap allocation for retail, with a dedicated retail event the day before listing.
Three tiers, three different prices, same company.
This is the structural reality of every megacap IPO.
Institutions and insiders get the early entry.
Retail gets the public float at the marketed price.
Nothing about that is unique to SpaceX. It is how the system is built.
The wealthy understand this and treat IPOs accordingly.
They wait for lockups to expire, watch how index inclusion changes flow, and size positions to the structure rather than the headline.
Most retail investors do the opposite.
They see the biggest IPO in history, hear the trillion-dollar valuation, and click buy on day one.
By the time the index inclusion announcement comes through and the passive funds have to buy, retail has already paid the highest price in the stack.
Here is what makes SpaceX worth watching, regardless of what you decide to do:
Starlink is genuinely one of the most impressive infrastructure businesses ever built, Falcon 9 has rewritten the unit economics of getting to orbit, and Starship is the most ambitious aerospace program in history.
If even half of what Musk has signaled actually plays out over the next 20 years, the long-term case is real.
The question is not whether SpaceX is a great company.
The question is whether the price you pay on day one of a frenzied IPO leaves any room for compound returns over a decade.
Buying a great company at the wrong price is still buying the wrong price.
The investors who win this trade will not be the ones who tweeted hardest about it Friday morning.
They will be the ones who had a system, sized accordingly, and ignored the noise.
Surmount helps you automate your investments with rules-based strategies built on data, not hype cycles.
NEWS: Billionaire investor Ron Baron has placed a $1 billion order for SpaceX IPO shares and says he is not selling in his lifetime.
Baron, the founder and CEO of Baron Capital, laid out his case on a client call. His firm has put about $2 billion into SpaceX across 27 employee tender rounds since 2017, a position now worth roughly $15 billion after compounding at 54% per year.
He believes SpaceX, coming public at under $2 trillion, will reach $10 trillion to $30 trillion within 10 to 15 years and become the largest, most profitable company on the planet. People inside the company tell him he is lowballing it.
On Starlink alone, Baron projects 300 million subscribers and about $1 trillion in annual revenue within a decade, making it worth around $14 trillion on its own.
Right now, SpaceX is the only real hope for making humanity multi-planetary
Elon explains the terrifying reality of the aerospace industry and why it is so important that SpaceX stays completely focused on this mission
“There are many good causes in the world, but we have to pick our battles
If SpaceX doesn’t do it, I’m not sure how it will happen. So we’ve gotta get this done”
Larry Ellison asked the one question no journalist on Earth can answer.
A Wall Street Journal writer told Ellison to his face that Elon Musk doesn’t know what he’s doing.
Ellison didn’t argue. Didn’t get emotional. He just asked a question.
Ellison: “This guy is landing rockets on robot drone rafts in the ocean, and you’re saying he doesn’t know what he’s doing. You ever land a rocket?”
One question. No recovery.
Ellison: “Who are you? Why should I believe you as opposed to my friend Elon?”
This is the question the entire media class has been dodging for a decade. Who are you to judge? What have you built? What have you shipped? What problem have you solved that didn’t involve a keyboard and a deadline?
Ellison: “You’re there in front of your Apple Macintosh typing up an article saying Elon’s an idiot.”
They sit behind a laptop they did not engineer. Using a network they did not build. Running on silicon they cannot explain. To tell the world that the man sending humans to space doesn’t know what he’s doing.
They have never built anything heavier than a Word document.
And they publish it with absolute certainty.
That’s the part that should disturb you. Not the criticism. The confidence behind it. The total absence of self-awareness it takes to judge disciplines you wouldn’t last a single semester in.
Musk does not operate in opinion. He operates in the physical layer of the universe where the math closes or the rocket does not come home.
His critics operate in a text editor.
He built the vehicle that carries NASA astronauts to the International Space Station. The satellite constellation delivering internet to active war zones. The EV that forced every automaker on Earth to abandon their combustion roadmap.
His loudest critics built a byline.
So why the coordinated hatred?
Because they lost the leash.
The attacks didn’t escalate because Musk got worse at engineering. They escalated because he bought X. He cracked open the algorithm. He handed the public square back to the people. And he shattered their ability to control what you’re allowed to think.
They don’t hate the engineer.
They hate that the engineer took their monopoly.
You cannot cancel a rocket. You cannot publish a hit piece on gravity. You cannot edit the laws of physics.
They own the syntax.
He owns the physics.
One of them is going to Mars.
BREAKING:
Elon Musk will make a major announcement at ASML's private technology conference Thursday.
One day before the expected SpaceX IPO.
ASML makes the machines that print the world's most advanced chips.
Without ASML.
No Nvidia. No TSMC. No advanced AI hardware.
Elon speaking at the most important chip machine company on earth.
The day before the biggest IPO in history.
Is not random.
Watch Thursday closely.
Elon Musk told a story that should terrify every AI company on Earth.
His son Saxon is autistic.
Saxon couldn’t understand why the family went to restaurants.
You can get the same food delivered.
You can call your friends over.
You can eat better at home for half the price.
So why go?
Musk: “He had an epiphany and said, ‘Oh, the reason people go to restaurants is to hang out with strangers.’”
A kid who takes the world literally just decoded something the rest of us never thought to question.
We like being around people we’ll never know.
Look at what we already built.
Delivery apps so you never wait in line.
Remote work so you never share an office.
Self-checkout so you never talk to a cashier.
Every innovation of the last 20 years was a bet against human proximity.
Every one paid off.
Until it didn’t.
Loneliness is now a public health emergency.
Depression has doubled since the smartphone.
The average American has fewer close friends than any generation in history.
We didn’t remove friction.
We removed the thing friction was hiding.
Now look at what’s coming.
AI agents that handle your emails.
AI companions that replace your conversations.
AI assistants that make every human interaction optional.
Same playbook. Same bet.
Except this time we’re not engineering out strangers.
We’re engineering out humans entirely.
The coffee shop where nobody knows your name.
The subway where no one speaks.
The restaurant where you’ll never see that couple again.
Those aren’t failed connections.
They’re the background radiation of belonging.
We don’t just need people who know us.
We need to exist in rooms full of people who don’t.
That’s what a kid understood at a dinner table that billion-dollar companies still can’t grasp in a boardroom.
We spent 20 years building a world you never have to show up to.
AI is about to finish the job.
And nothing it builds will ever replicate sitting in a room full of strangers and not feeling alone.
Starlink is about to get massively more powerful
Elon Musk just revealed that the upcoming Starlink V3 satellites will be 10–20x more capable than the current V2 versions, with over 100x more bandwidth per launch once Starship starts deploying them
That is a ridiculous jump
Each V3 satellite is enormous, roughly 7 meters wide, around the size of a small bus. They are so large that only Starship can launch them
This next generation will dramatically increase Starlink’s capacity, speed, and coverage, especially in high-demand areas
It will also supercharge direct-to-cell, mobile connectivity, and future space-based infrastructure by giving Starlink far more capacity to work with
This is going to be a game changer for global connectivity 🛰️
Iranian man warns that Sharia law starts with unity between the left and Islam.
Pay attention to what he’s saying. The same alliance between the left and Muslims that is taking place now in the West happened decades ago in Iran. That’s how Iran became an Islamic theocracy.
Two days after Henry died Hampshire Police secretly recorded Digwa in a police van speaking Punjabi to his brother. Digwa admitted stabbing Henry. Discussed claiming self defence. Made zero mention of racial abuse. Not one word.
Hampshire Police had that tape.
They knew Digwa was lying about the racist attack. They had the evidence. They had his own words and then tried to smear Henry as the aggressor anyway.
Three days after his death their statement read “it was reported two men had been assaulted by an unknown man.” Henry was the unknown man. The boy bleeding out on the street. They flipped it.
Family complained. Statement changed. Then police told the family their NEXT update would again infer Henry was the initial aggressor. His family had to fight them a second time. While grieving their murdered son.
Then during the trial Hampshire tried to issue a statement telling the public to stop talking about it online. Calling it disinformation. The CPS had to step in. Told them they were about to collapse their own murder case.
This is the force that handcuffed a dying boy. Missed the murder weapon twice. Had a secret tape proving the killer lied. And still tried to bury Henry's name.
That's not incompetence. That's a machine protecting itself. At the expense of a dead boy's reputation and three officers are still on active duty. Not suspended. Treated as witnesses. To their own actions.
Hampshire Police didn't just fail Henry on that street. They kept failing him for six months after he died.
- @Banksycat
Den größten Schaden in der Coronakrise haben "Wissenschaftler" wie Lauterbach, Drosten, Brinkmann, Betsch und Buyx angerichtet.
Den größten Schaden im Ukrainekrieg haben "Experten" wie Major, Masala, Mölling angerichtet.
Den größten Schaden für die Volkswirtschaft haben "Fachleute" wie Habeck, Graichen, Neubauer, Fratscher, Lesch, Latif, Terli, Kemfert und Herrmann angerichtet.
Wenn es nach dem Willen von Aktivisten und Ideologen wie Melanie Amann geht, dürfen solche Leute ständig und überall sprechen, auch wenn sie den größten und tödlichsten Unsinn erzählen. Auch irgendwelche dahergelaufenen Schauspieler und Künstler dürfen den tödlichen Mist nachplappern und werden hofiert, denn es ist ja das gewünschte Narrativ.
All diese Leute sind die #falsebalance. Gegenstimmen kommen so gut wie gar nicht zu Wort oder werden massiv diffamiert. Von Leuten wie Amann. Würden diese Stimmen gehört, könnten derart gewaltige Schäden nicht angerichtet werden.
Wir reden hier nicht von Petitessen, sondern von Toten im Millionenbereich und von Schäden im Billionenbereich. Dafür verantwortlich sind Leute wie Amann und ihre "Experten".
🚨 RED ALERT: EPA Chief LEE ZELDIN Confirms Stratospheric CHEMICAL SPRAYING — “Sulfur Dioxide Into the Sky, Health Risks Are Real” (What used to be called “conspiracy” is now called official policy.)
💥 EPA Chief Lee Zeldin confirms that dangerous chemicals, including sulfur dioxide, are being released into the sky for geoengineering. Health risks are real. Environmental damage is guaranteed. This is no longer conspiracy — it’s official.
Geoengineering Gone Rogue: The U.S. Government Has Funded It. The Skies Are Full of It. And Now the Truth Is Official.
🚨 THE CONFESSION THEY NEVER WANTED YOU TO HEAR
FOLLOW ME, THE NEXT DROP WILL BE SHOCKING
🚨Update: DEAD!! IRGC Supreme Commanding General Ahmad Wahidi, who took command after several of his fellow Generals were killed at the start of the War, was killed in an Israeli air-strikes in Tehran tonight!!
Javier Milei: “I thought being on the left was a mental problem. The empirical evidence is so overwhelming that it never worked anywhere, and they refused to accept it.”
“But what I discovered is that being on the left is a disease of the soul. The left is built on envy, hatred, resentment, and unequal treatment under the law. They are very violent, and since they have no way or arguments to answer, they go for physical violence.”
Sie fliehen. Es ist real! Bloß raus aus Deutschland.
Der Exit in den Köpfen deutscher Unternehmer hat nicht nur begonnen.
Viele handeln derzeit ganz konkret!
https://t.co/JNVfFrRa95
Die Sozis glauben wohl, die sich abzeichnenden Mandatsverluste bei allen folgenden Wahlen könnten durch lukrative Jobs in NGOs und Verwaltung kompensiert werden: Vergesst es, es müssen schon ab diesem Jahr so viele zig Milliarden gespart werden, dass dafür kein Geld mehr übrig bleibt. Und das ist ein weiterer positiver Effekt von Haushaltskonsolidierung.
Auf den Punkt!
"Unser Land ist auf dem Weg zu einer Bananenrepublik. Man hat das Gefühl, viele unserer Politiker leben in einer Blase und kriegen nicht richtig mit, was wirklich passiert: in China, in Vietnam oder auch in Indien. Wir machen uns was vor und haben das Gefühl, wir sind noch die großen Kings. Das ist unser größtes Problem in Deutschland. Denn wir sind in einer beschissenen Situation."
- Unternehmer Martin Herrenknecht
Dieter Nuhr: "Warum ich nicht mehr links bin... In der Praxis ist der Staat ein zunehmend übergriffiges und dysfunktionales Gebilde, dessen Kosten in keinem Verhältnis mehr zu seiner Funktionsfähigkeit stehen. Schulen und Straßen verkommen..."
Jede Minute dieses „Frontal 21”-Berichts im ZDF zum Thema Schweinegrippe aus dem Jahr 2010 ist lohnenswert. Es handelt sich dabei um genau die Art kritischer Berichterstattung zu Scheinpandemien und schnell entwickelten Impfstoffen, die das ZDF seit 2020 nie wieder ausgestrahlt hat. Der Beitrag ist eine Art Artefakt der pharma- und regierungskritischen Berichterstattung.