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I just noticed something that’s really moving the market these days. Wall Street is in SpaceX mode, and meanwhile, the conversation about Elon Musk’s fortune keeps growing.
It all started when Elon responded to Peter Diamandis on X saying his goal was to reach 10 trillion dollars. Diamandis had mentioned that Elon was already surpassing 800 billion, and the response was clear: “10T or nothing.” Then he made an interesting comparison with Rockefeller in 1913, saying that while Rockefeller had oil, Elon has the future. That pretty much sums up why Elon Musk’s wealth remains a topic of conversation.
But what’s really important here is what’s happening with SpaceX. The company could go public valued at around 1.5 trillion dollars, and nearly 200 major investment institutions recently traveled to Texas for a presentation. Some managers are already reserving money, deciding how much they can buy, and analyzing what to sell to free up liquidity. There are rumors that some might reduce positions in large tech companies like Tesla to fund this.
On Stocktwits, the sentiment about Tesla is extremely bullish, although with low message volume. The interesting thing is that retail traders are paying attention to how all this affects TSLA. Some write about price targets like $400 or $420, while others mention how the market has dropped a bit due to the rumors. Tesla has fallen 13% so far this year, making it the second-worst performer among the Mag7.
Now, SpaceX is being quite smart in how it structures its IPO. It’s communicating to investors that no one can remove Elon as CEO or chairman of the board without his approval. Class B shares will have 10 votes each, and he is expected to control them. Basically, any serious attempt to remove him would go through the same voting power he controls. It’s a dual-class structure, common in tech IPOs led by founders, but SpaceX took it further. Corporate governance experts say this gives Elon something close to a personal veto.
While all this is happening, Elon is also in court against OpenAI. Greg Brockman, co-founder of OpenAI, is expected to testify Monday in Oakland. Elon is suing because he wants them to revert to a non-profit model, accusing them of violating a charitable trust. According to legal documents, Elon contacted Greg around April 25th to ask about a possible agreement, and the response was that both parties could withdraw their lawsuits. Elon responded strongly, saying that by the end of the week, they would be the most hated men in America.
Elon Musk’s fortune continues to be a debated topic, but what really matters now is how these corporate moves affect the market. SpaceX, Tesla, OpenAI—all connected. It’s the kind of moment where investors need to pay close attention to every move.