 (6).png)
1 hour ago
3
ARTICLE AD BOX
Musk acknowledged that other aerospace companies are building good rockets, but his issue with them was none of them were pursuing technology that would make humanity an inter-planetary civilization.
SpaceX founder and CEO Elon Musk speaks via video at the Nasdaq Marketsite in Times Square during the launch of the SpaceX initial public offering (IPO) on the Nasdaq on June 12, 2026, in New York City.(Getty Images via AFP)Elon Musk spoke to his colleagues and investors and the SpaceX IPO went live on Nasdaq on Friday, making him the world's first trillionaire and putting the tech mogul miles ahead in terms of wealth of his peers.
In his speech today, the SpaceX CEO spoke of how the 'little company' started by him is now 'going public with the largest IPO ever'.
The world's richest man also said that he hardly had any hope about SpaceX becoming a success in the first place, saying, "And let me tell you, if people had told me this was going to happen, I was like, ‘man, you must be smoking some really good crack, because I think this company is going to fail.’ I mean I gave SpaceX less than a 10% chance of succeeding at all."
Quick answers to key questions
SpaceX's IPO on Nasdaq was notable for being the largest in history, debuting at $150 per share, which was an 11% premium to its IPO price of $135, and marking a market valuation of approximately $1.96 trillion.
Elon Musk expressed that he believed SpaceX had less than a 10% chance of success, indicating his skepticism about the company’s survival and acknowledging the enormity of the challenges it faced.
Musk aims to eventually take anyone interested to the moon, Mars, or beyond the solar system, stating that SpaceX's goal is to make space travel available not just to astronauts but to ordinary people.
Musk is motivated by his passion for humanity's future, believing that without new companies in space, the dream of becoming a 'space-bearing civilization' and realizing the exciting futures depicted in science fiction would remain unfulfilled.
Yes, potential investors should be cautious, as analysts have noted that the valuation and future success of SpaceX depend on Musk fulfilling ambitious promises and the volatile nature of newly listed stocks.
However, what drove Musk was his passion for humanity to become a 'space-bearing civilization'.
"To be clear, in fact, I told people this, I said, ‘Look, we’re probably going to fail, but you know, we should give it a try, because if we don't, if there's not a new company that enters space, we will never be a truly space-bearing civilization," he said.
'No one was pursuing tech to make Star Trek'
While Musk acknowledged that other aerospace companies are building good rockets, but his issue with them was none of them were pursuing technology that would make humanity an inter-planetary civilization and would make science fiction stories come true.
"You know, while the other aerospace companies, they build good rockets and everything, they were simply not pursuing the technology that's necessary to make life multi-planetary, to make Star Trek, to make the exciting science fiction futures that we've read about real, and that's what SpaceX is all about, is to take the fiction out of science fiction and create an exciting, inspiring future for everyone," said the Tesla, Boring Company, SpaceX, Neuralink boss.
'Want to be able to take anyone who wants to go to Mars, moon'
Musk also said that his company wants to be able to go to a position where it takes the common man to the moon, Mars, or even beyond the solar system. He wants to make space accessible for regular folk.
"We want to be able to take anyone who wants to go to the moon, anyone who wants to go to Mars, or anywhere in the solar system, and maybe beyond the solar system at some point—we want to be able to take you there. Not just a few astronauts, I mean you—literally you. Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond. And I’m confident at this point that with the incredible team that we have here at SpaceX, that we will do that for you," he said with conviction.
What about problems on Earth?
While Musk acknowledged that there are problems on the Earth that are needed to be solved, he believes that we should look beyond, into the future, and get excited about what lies ahead: "I always think about this. There are always problems on earth. There are always problems on earth. There are always things that we wish to be better, that we want to solve here on Earth, and we should solve them. But there also have to be things that get you excited about the future, that make you glad to wake up in the morning because you can’t wait to see what happens next. And that's the future that SpaceX wants to bring to you.”
About the Author
Sayak Basu
Sayak Basu is a digital journalist with more than seven years of experience in covering general news, politics, science, cricket, and football. He brings a sharp editorial eye and a keen attention to detail in the newsroom.<br><br> Sayak focuses on breaking stories, analysis of political and sporting events, and new scientific research that is pushing the limits of civilisation.<br><br> He has earlier worked for publications like NewsBytes, Cinemaholic, Zacks Investment Research, and Deccan Herald. Sayak currently serves as an Assistant Editor at Livemint where he runs daily news operations.<br><br> Sayak has a master's degree in English Literature from Jadavpur University, Kolkata.<br><br> Based out of Bengaluru, he has a keen interest in world cinema, literature, sports, and music.
English (US) ·