Billionaire Ron Baron Put $1 Billion Into SpaceX at the IPO. Here's Why He Calls It "The Largest Company on the Planet" in the Making.
Here's why his $30 trillion vision looks more like fantasy than fact.
Overview
The biggest IPO in history arrived on June 12. SpaceX (NASDAQ: SPCX) sold roughly 556 million shares at $135 apiece, raising about $75 billion. After the investment banks that underwrote the offering exercised their "greenshoe" option to purchase additional shares, that number is now $85.7 billion -- nearly three times the next largest raise in history.
Among those who managed to snag shares on day one was SpaceX bull and billionaire fund manager Ron Baron, who added $1 billion to his already massive stake in the company.
Baron has predicted that SpaceX will be the "largest company on the planet." Here's why I think he's wrong.
Details
Source
Originally published at www.fool.com.
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