TNB Tech Minute: SpaceX Soars in Debut, Makes Elon Musk First Trillionaire
WSJ Tech News Briefing
The Wall Street Journal
4.3 • 1.7K Ratings
🗓️ 12 June 2026
⏱️ 3 minutes
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| 0:00.0 | Access to affordable credit helps me pay my employees, but I don't really need it. |
| 0:05.0 | Infliction is killing me! |
| 0:08.0 | But who cares? Big retailers are making record profits! |
| 0:12.0 | That's why we support the Durban Marshall Credit Card Bill! |
| 0:15.0 | See? Banks and credit unions help small businesses make payroll. |
| 0:18.0 | This bill would cut the vital resources they need. |
| 0:24.4 | While increasing megastore profits, they deserve it. |
| 0:25.1 | Don't they? |
| 0:29.1 | Tell Congress, stop the Durban Marshall money grab for corporate megastores. |
| 0:31.2 | Paid for it by the Electronic Payments Coalition. |
| 0:36.8 | Here's your afternoon, TNB Tech Minute for Friday, June 12th. |
| 0:38.8 | I'm Julie Chang for the Wall Street Journal. |
| 0:48.8 | It's official. SpaceX launched its initial public offering on the NASDAG today. By this afternoon, |
| 0:55.7 | shares were up about 30% over their opening price of $135 as a largest ever IPO. |
| 1:01.3 | When the stock opened trading, the initial climb gave it a market cap above $2.2 trillion, |
| 1:09.2 | making it the sixth most valuable U.S. listed company and minting CEO Elon Musk as the first ever trillionaire. High trading volume even caused outages |
| 1:13.0 | over at Robin Hood for some users. Meanwhile, banks are also raking it in. According to a filing |
| 1:19.9 | and people familiar with the matter, the total fee pool for SpaceX's IPO is around $500 million. |
| 1:27.3 | Lead banks, Goldman Sachs, and Morgan Stanley will take home |
| 1:30.4 | the lion's share of that, getting about $100 million apiece. Bank of America, Citigroup, |
| 1:36.2 | and J.P. Morgan Chase are each expected to earn around $75 million, and several other banks are |
| 1:42.7 | set to earn around $10 million or less each. |
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