{"id":475865,"date":"2026-06-13T21:00:19","date_gmt":"2026-06-13T21:00:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/475865\/"},"modified":"2026-06-13T21:00:19","modified_gmt":"2026-06-13T21:00:19","slug":"spacex-ipo-elon-musk-becomes-worlds-first-trillionaire-as-spacex-shares-soar-on-stock-market-debut","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/475865\/","title":{"rendered":"SpaceX IPO: Elon Musk becomes world&#8217;s first trillionaire as SpaceX shares soar on stock market debut"},"content":{"rendered":"<p>Stock market shows signs investors are selling Big Tech to buy SpaceXpublished at 19:31 BST 12 June<\/p>\n<p>19:31 BST 12 June<\/p>\n<p class=\"ssrcss-1l98ssq-Contributor etflsgg2\">Kali Hays<br \/>US technology reporter<\/p>\n<p>      <img decoding=\"async\" alt=\"People gather to watch a live feed with SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026.\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/06\/d8e3a78d-8225-4a3f-9400-dad13a278975.jpg.webp\"  width=\"2000\" height=\"1125\" class=\"ssrcss-egie1y-Image edrdn950\"\/>Image source, Reuters<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">There are signs that stock market investors have been selling their shares of major tech companies like Amazon, Apple, Meta, Microsoft, and even Tesla, in order to buy shares of SpaceX.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Samuel Kerr, who leads equity capital markets research for Mergermarket, told the BBC there had been noticeable selling in large tech companies as SpaceX was marketing and pricing its IPO.      <\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;That would indicate investors were selling out of liquid tech exposure, like the Mag 7 names, to make room for SpaceX,&#8221; Kerr said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Financial analysts use the term &#8220;Magnificent 7&#8221; as a reference to Alphabet (owner of Google), Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, which make up most of the world&#8217;s most valuable companies.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">On Friday, the price of shares for Tesla, Microsoft, Apple and Amazon had dipped down slightly, as shares of Meta, Alphabet and Nvidia remained relatively flat.<\/p>\n","protected":false},"excerpt":{"rendered":"Stock market shows signs investors are selling Big Tech to buy SpaceXpublished at 19:31 BST 12 June 19:31&hellip;\n","protected":false},"author":2,"featured_media":475866,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[111,139,69,147,392],"class_list":["post-475865","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-new-zealand","tag-newzealand","tag-nz","tag-science","tag-space"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/475865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=475865"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/475865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/475866"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=475865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=475865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=475865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}