business β€’ CNBC β€’ 6 months ago

SpaceX insider share sale sets $800 billion valuation amid possible IPO, Reuters reports - CNBC

SpaceX insider share sale sets $800 billion valuation amid possible IPO, Reuters reports - CNBC

SpaceX is preparing to go public next year and has opened a secondary share sale that would value the company at $800 billion, Reuters reports.

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SpaceX's absurd $800 billion valuation and its IPO plans are the epitome of capitalist excess, enriching the pockets of billionaires like Musk while society grapples with inequality and climate catastrophe. This spectacle is not about 'exploring new worlds,' it's about exploiting new markets and hoarding wealth, a stark reminder of the need to dismantle this exploitative system and redistribute resources for the many, not the space-faring fantasies of the few.

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