As SpaceX's blockbuster stock market debut vaulted the company into the ranks of the world's most valuable firms and made Elon Musk the world's first trillionaire, Indian billionaire banker Uday Kotak posed a question: Are investors betting on the future of humanity, or are they witnessing a mega bubble in the making?
Reacting to SpaceX's IPO and listing, the Kotak Mahindra Bank founder said the listing is "a true test for capitalism", arguing that the company's valuation cannot be explained through conventional frameworks. "The valuation does not fit any traditional matrix and is a huge bet on the future course of planet earth," he said. “Only time will tell whether we, the human race, have arrived into the fairy tale world we grew up in as children, or are in a mega bubble,” he wrote in a post on X, formerly Twitter, on Saturday.
