SpaceX IPO minted the first trillionaire in the world, Elon Musk. However, Musk lost the title in a few days after his net worth nosedived to $943 billion on Friday, compared with $1.3 trillion when the SpaceX stock went public on Nasdaq. The stock has crashed by over 20% over the past five days, but still maintains a market cap of over $2 trillion.
Market experts attributed the stock price crash to the rocket company's inaugural bond offering and a 'sector weight' rating by KeyBanc. However, The Big Short's Michael Burry, who predicted the 2008 global financial crisis, believes SpaceX isn't worth even $1 trillion, let alone $2 trillion.
