SpaceX Nasdaq Debut Makes Elon Musk World's First Trillionaire; Sen. Warren Calls For Wealth Tax

SpaceX debuted on Nasdaq on Friday, with shares jumping 11% and propelling the rocket manufacturer to a market capitalization of $2.12 trillion, making Elon Musk the world's first trillionaire. Musk controls around 40% of SpaceX's total equity but holds approximately 85% voting power due to enhanced share classes. The company raised $75 billion through the IPO by issuing 555.55 million shares at $135 each, making it the largest IPO on record. Senator Elizabeth Warren responded on Friday by calling for a wealth tax, arguing that if Musk's vision of AI displacing half the labor force comes to pass, "our country's wealth could get sucked up by a handful of billionaires while workers get left behind."
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