SpaceX stock soared and returned to Earth in a volatile initial offering.
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By Bob Gaydos
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If you had even a fleeting awareness of media reporting on the stock market for the past week or so, you could not escape learning that Elon Musk was offering what turned out to be a record-breaking IPO, allowing all the world to buy stock in his out-of-this world company, SpaceX.
You would also have learned that Musk would retain control of 80 percent of the shares of the newly traded company and, oh yeah, that the rush to buy shares and the resulting valuation increase in his company had made the South African billionaire, the world's first trillionaire.
The world's richest man just got much richer.
Shares for SpaceX were initially offered at $135, closed at $161 on the first day and have risen and fallen in the week since the offering as all the financial "experts" try to figure out if this is a really good investment or not.
That's not what this is about. This is about what the world's richest man -- the world's first trillionaire -- plans to do with his unprecedented wealth.
Take it to Mars. Or the Moon. Or, preferably, both.
Because, apparently, there's nothing a trillion dollars could do to make life on Earth better, even simply more livable, for millions of earthlings in need of food, clean water, a decent place to live, good health care and a basic education.
No, the man born into wealth and possessing a gift for buying other people's excellent ideas and turning them into the promise of progress, albeit apparently unfortunately delayed by other people's short-sightedness, wants to create a colony on Mars and permanent habitats (domed condos?) on the Moon for those who won't live long enough for the trip to Mars.
Swell.
Just what we need. A dream of a better life on another planet, presumably populated by residents of Musk's choosing, which is to say, all white. Maybe even all conceived by him, the father of 15 right here on Earth.
He also wants to put energy stations in space to handle the load for the coming AI revolution, which holds the promise of creating a perfect society by eliminating millions of jobs on Earth for those who actually still have access to food, water, health care, etc. And, not to forget the military, Musk wants to boost the payloads of his Starship rocket to be able to transport military personnel and materials anywhere on earth in less than an hour. Just like Amazon. Make war more efficient for the highest bidder.
I don't get it, but I can't say I'm surprised. After all, it was Musk whom Donald Trump turned to when he wanted to eliminate tens of thousands of federal jobs, eliminate food and health programs in the United States and elsewhere on the planet and in general snoop around in everybody's life.
Doge, they called it. Department of Government Efficiency. Musk failed at that. Somehow, his young geniuses couldn't manage to follow the law while they set about destroying people's lives. Trump fired him. But, heck, even driverless vehicles have problems sometimes, right? What's the big deal? We'll figure it out. He just needs a few billion more to work out the kinks.
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