Elon Musk is steamrolling Wall Street to become a trillionaire
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A podcast interview with NYT tech reporter Ryan Mac examining the SpaceX IPO filing, which reveals X (formerly Twitter) is shrinking by every major metric while Elon Musk's net worth continues to grow. The conversation covers how SpaceX is bending or breaking standard market rules — including accelerated index fund inclusion (15 days instead of 90), super-voting shares giving Musk ~85% control, unearned stock he can already vote, and mandatory shareholder arbitration clauses that remove legal accountability. Starlink is the only profitable business unit, while the AI division (xAI/Grok) is losing billions and renting compute to Anthropic. The IPO is projected to raise $50–75 billion, potentially making Musk the world's first trillionaire, largely on promises of Mars colonies and space-based data centers rather than business fundamentals.
