Everything about the SpaceX float is bigger than Texas.There are the sheer numbers, which were released by the cadre of bankers on Wall Street on Wednesday night: the company will raise at least $US75 billion ($105 billion) at a valuation of at least $US1.75 trillion ($2.45 trillion). Should the bankers really try to squeeze every bit of juice out of this deal, the valuation could rise to $US1.8 trillion.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
SpaceX is $2trn of hype and risk. You’re exposed, like it or not
Elon Musk’s float reminds us that every passive investor and super fund member is now endangered by a sector whose economics are still built largely on hope.
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