Elon’s Trillionaire Coronation

**Bill Cohan** (0:01)
And I wouldn't be surprised, frankly, to see Tesla and SpaceX combined at some point soon. I mean, you might as well roll it all up and hype it away, and keep that hype machine going, and that certainly would get investors riled up again.

**Peter Hamby** (0:17)
Welcome to The Powers That Be Daily, Pucks podcast focused on the intersection of Wall Street, Washington, Silicon Valley, and Hollywood, and the players who run it all. I'm Peter Hamby. It's Thursday, June 4th. Today, I'm joined by Bill Cohan to walk me through the details of SpaceX's forthcoming IPO, which could value the company at $1.7 trillion and make Elon Musk the world's first trillionaire. Bill compares that prospectus to OpenAI and Anthropic, which are also planning to go public this year. It might even show up in your 401k, even if neither company has proven how to make a profit. We'll discuss all that and much more on today's episode of The Powers That Be.
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Happy Thursday, everybody, and welcome to The Powers That Be. It's a special episode today because Bill Cohan is here with me. And if you're watching on YouTube, you get to see his gorgeous face. You only get to hear his luscious voice, but now you get to see the whole shebang if you're watching us on The Powers That Be.

**Bill Cohan** (2:30)
First time on video.

**Peter Hamby** (2:32)
It is your first time on video, although I see you on TV and you're always frame-moggin. Bill, you are a frame-mogger. We're gonna talk today about the forthcoming SpaceX IPO that could make Elon Musk the world's first trillionaire. We're also going to talk about big AI companies like OpenAI and Anthropic going public and sneaking their way possibly right into your 401k.
Is that dangerous? Bill, as discussed, good to see you, good to be seen by you. Are you a Knicks fan, by the way?

**Bill Cohan** (3:02)
I'm a Celtics fan, but I'm a Knicks appreciator because you can't not appreciate. You know how I feel about college basketball. We don't have to go over that. I don't feel quite as passionately about professional basketball, but you have to admire what the Knicks have done through the playoffs. It's mind-blowing.
I know they're the underdog here. Maybe they can pull it out. It would do a lot for Jim Dolan, the owner of the Knicks.

**Peter Hamby** (3:31)
He's a charity case. We need to do more for Jim Dolan. Hopefully, they can pull it off.

**Bill Cohan** (3:35)
Yes. He's one of the original Nepo babies.
They haven't won a championship in many, many years. He's basically hated, so this would help him out to the extent that we want to help him out. We want everybody to be happy, Peter.

**Peter Hamby** (3:51)
We sure do, Bill. By the time you're listening to this, dear listeners, that game one will be in the bag. We're recording this right before game one, but I'm actually excited about an NBA finals for the first time in a few years. Anyway, let's cut to huge basketball fan Elon Musk. Set to become the world's first trillionaire, SpaceX unveiled plans this week for their IPO. They plan to raise $75 billion for this IPO, which is coming soon. It would value the company at $1.7 trillion. I think they're going to trade at $135 a share. I've been through an IPO at the company. Bill is very exciting. We went way up really quickly and then way down.
Took a while to come on back.
Let's start with, is $135 a share? Does that seem like a fair price point for a single piece of SpaceX stock?

**Bill Cohan** (4:40)
Well, I tend not to think about it in terms of the share price, individual share price. I think about it more in terms of the overall valuation, which is $1.8 trillion. That's what they're aiming for. I think they're actually aiming to raise something like $86 billion, which would make it the largest IPO in history.