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Chapter 1: What is the main topic discussed in this episode?
A new chapter in global growth is being written and much of it is happening in Africa. Africans need to invest. There are deals to be done and business to be won. I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.
The digitalization of Africa is going to power its growth.
Creating the world of something like HIV is possible.
Population growth is so enormous in Africa.
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News when you want it with Bloomberg News Now. I'm Caroline Hepker. SpaceX has made history with the biggest stock market listing of all time. The Elon Musk-led company raised $75 billion with shares valued at $135 each. At that price, SpaceX is worth about $1.77 trillion. trillion, making it one of the world's most valuable public companies.
Including employee stock awards and options, the valuation rises to roughly $1.8 trillion. Dan Ives is Global Head of Technology Research at Wedbush Securities.
I think a big reason for some of the stuff we've seen in tech over the last week is an anticipation of this in terms of little, you know, white knuckle moment. But it comes down to like anyone that's owning SpaceX, you're buying it for the Musk factor. And many that bet against Tesla and Musk going back a decade ago, that was proven historically wrong.
So that was Dan Ives there, AI big tech bull that he is. As Elon Musk's fan base played a crucial component in this deal, sources tell us that retail investors alone have placed more than $100 billion worth of orders, far exceeding the 20% of shares reserved for them. Well, SpaceX will begin trading on NASDAQ later today under the ticket SPCX.
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Chapter 2: What significant milestone did SpaceX achieve with its IPO?
According to calculations by the Bloomberg Billionaires Index, Musk's net worth will jump to about $970 billion after taking into account SpaceX's offering price. Already the world's richest person at $135 a share, his stake, including options, is worth $688 billion. And a successful showing in public markets Friday could tip the scales into making him a trillionaire.
His wealth will boom even further if he meets performance-based conditions. However, hitting those targets would require out-of-this-world performance.
Chapter 3: How much capital did SpaceX raise during its stock market debut?
The company's market cap would need to reach $7.5 trillion. SpaceX would also have to deliver a significant number of space-based data centres... And last but no means least, establish a permanent human colony on Mars with at least one million inhabitants. In London, Tom McKenzie. Still very much on planet Earth for Bloomberg Radio.
Wow, isn't that an extraordinary story around SpaceX? And actually, if you look at the early indications, SpaceX shares indicated higher by more than 35% when that debut begins on the NASDAQ today. Okay, let's turn our attention now to the UK, where Defence Secretary John Healey has resigned from Keir Starmer's government, dramatically weakening the Prime Minister's authority.
Chapter 4: What factors contribute to SpaceX's high valuation?
Healy was joined by junior defence minister Al Cairns and two ministerial aides in stepping down in a row over how to fund increased defence spending for Britain. The resignations plunged the administration into fresh crisis. Bloomberg's James Walcock has more.
It's arguably the most damning accusation a defence secretary can make, saying the Prime Minister isn't able to keep Britain safe. John Healey was seen as a loyal ally of Starmer, but he has grown frustrated the government hasn't been able to find the cash needed to boost defence spending. In his resignation letter, he pointed to Keir Starmer's very own speech in Munich earlier this year.
Time and again, leaders have looked the other way. only rearming when disaster is upon them. This time must be different because all of the warning signs are there. In a statement, the Prime Minister said he will always do what is necessary to protect national security. But the loss of a politician who had served as a minister to every Labour leader since Tony Blair is yet another body blow.
Reuters rivals are lining up to challenge Starmer for his job. In London, James Wilcock, Bloomberg Radio.
President Trump has pulled back from threatened military strikes against Iran, claiming again that a deal is close without any confirmation from Tehran. Earlier, the American president had vowed to hit the Islamic Republic very hard and was threatening to seize its oil infrastructure on Karg Island. The US leader told reporters again that a deal with Iran could come as soon as this weekend.
We just made a great settlement of the war with Iran, and we're going to be subject to finalization of documents. We should get done over the next few days. Probably have a signing maybe in Europe.
Oil plunged while stocks rebounded on Trump's comments. They are the latest in a series of mixed signals about a war that is now in its fourth month. The European Central Bank policymaker Primoz Dolentz says that yesterday's interest rate increase by the ECB was necessary to keep prices in check.
Speaking hours after the quarter point increase, the Slovenian central bank chief explained the decision.
is just enough for now to follow our main path. So this is the interest rate being as high as possible or as high as needed for inflation to be on track.
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Chapter 5: What challenges does SpaceX face in the public market?
My fellow Americans, this is Liberation Day.
Stories that move markets.
Chair Powell opened the door to this first interest rate cut.
Impact politics. Change businesses. This is a really stunning development for the AI world. And how you think about your bottom line. Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.