What the SpaceX IPO means for us non-trillionaires

Shares surged as much as 30% when trading began today, but the average investor may want to keep their feet on Earth.

Welcome to the daily Inside Scoop newsletter. SpaceX founder Elon Musk became a trillionaire today when the company went public. Plus, what a weekend in sports, including Game 5 of the NBA Finals, a UFC event on the White House lawn and the World Cup launching stateside. We are texting with national correspondent Morgan Chesky ahead of the USA vs. Paraguay game. Let’s get into it.

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Today’s initial public offering for Musk’s SpaceX created out-of-this-world wealth for the tech titan and insiders who’ve been along for the ride. Shares surged as much as 30% in the first few hours of trading, giving the rocket company a market value of more than $2 trillion and making official Musk’s status as the world’s first trillionaire.

Just a moment.