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.
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.
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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