Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
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And good morning. This is the Daily Oz. This is the Daily Oz.
Chapter 2: What does Elon Musk's trillionaire status mean for the economy?
This is the Daily Oz.
Oh, now it makes sense.
MUSIC
Good morning and welcome to The Daily Oz. It's Tuesday the 16th of June. I'm Emma Gillespie. I'm Sam Kozlowski. A trillion. It's a number so big it almost doesn't make sense. But this week, Elon Musk became the world's first trillionaire thanks to his company SpaceX going public on the stock market.
It is certainly... Hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever.
It means that Musk himself is now richer than most countries and the value of his rocket manufacturing company is on par with the economies of Australia, Mexico and Spain. We are going to explain what any of that actually means and why it matters in today's deep dive. But first, you're going to hear a quick word from TDA's very own editor-in-chief, Billy Fitzsimons.
Hey, it's Billie. I know I am often talking to you on the podcast, but you might not know what I do outside of the podcast. I lead the editorial team at TDA, and a big focus for me at the moment is what we do with AI.
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Chapter 3: How did SpaceX become the world's most valuable private company?
For those who know too much about Elon Musk, what do we need to know about him in the context of today's discussion?
Yeah, you're right, Sam. There is so much we could talk about when it comes to Elon Musk. But for today's chat, all you need to know is he's a 54-year-old tech entrepreneur, the richest man in the world, now even richer. He owns Tesla and X. He's the co-founder of PayPal, OpenAI, the founder of SpaceX, and that is the company we're going to chat about today.
In terms of his wealth, I think it's worth knowing that in mid-2024, he's He was kind of tied in this three-way race with Jeff Bezos, the founder of Amazon, Bernard Arnault, the founder of LVMH, the luxury goods company. And the three of them were kind of swapping around the title of the world's richest person on a near daily basis in mid-2024.
At the time, they were all worth around $200 billion each.
So about $350 billion Australian.
Yeah.
Roughly. Thereabouts. Insane amounts of money then.
Huge money then. Now less than two years later, Musk is worth more than twice Bezos and Arnaud combined.
That is an insane acceleration in wealth. Also interesting that Jeff Bezos has a similar-ish space company that we're going to talk about a bit later.
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Chapter 4: What are the implications of SpaceX's IPO on Musk's wealth?
It's crazy, that stat you just said, about 85% of satellites. So if you're a telco or if you're a government and you're looking to put a satellite up in the sky, there's an 8.5 out of 10 chance that you're going to use a SpaceX satellite and you can only imagine the size of those contracts.
Oh, absolutely. And I think that that's a really important point because most people today, when they think of SpaceX, they're probably thinking about the rocket launches, but the satellite component of the business is so, so massive. Starlink, that communications network within SpaceX. currently has thousands of satellites in low Earth orbit.
They beam high-speed internet to users around the world, particularly in regional and remote parts of the world where there has previously not been infrastructure for high-speed Wi-Fi.
Yeah, it's come up in the Iran discussions because Elon Musk has been trying to get internet into areas of Iran via a Starlink satellite.
Yeah, and that's really what Starlink has become known for. As of early this year, it had around 10,000 active satellites. That's about two-thirds of every active satellite currently in orbit. And the reason this is important for the financials that we're chatting through today is that those satellites generate 61% of SpaceX revenue annually. In 2025, that was 18.7 billion US dollars.
That's compared to the rocket launch side, which is about 22% of SpaceX revenue. So that just shows that difference between, you know, we hear a lot about the rockets, but really it's Starlink and these satellites that are making the money.
So that's a bit of a makeup of what SpaceX does, the dominant player, you'd be fair to say, in space exploration and the hardware that gets shot up into the sky. We're going to talk through its debut on the stock market this week, right after a quick word from today's sponsor.
If cold weather is keeping your dog indoors, Advanced Pet Food has teamed up with Pet Barn to bring an exciting snifari experience to stores this June to keep your dog entertained on rainy days. Head into your local Pet Barn with your furry friend before June 29th to try it out. So, Em, SpaceX went public on Friday on the NASDAQ.
The image that you see in your mind when a company goes public is the ringing of the bell, standing on a platform and doing something dramatic. That sure did happen. But I want to go a little bit more scientific with what exactly going public means. Yeah. Talk us through what actually happened on Friday.
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Chapter 5: What role does Starlink play in SpaceX's business model?
Things could go up or down rapidly. His long-term ambition is a colony on Mars that is a lofty goal We will see if SpaceX can deliver. And now ultimately it's the public who will be the judge and jury as to whether that will be achieved.
And one of the best bits about the public markets is they have to declare information. They have to give shareholders a breakdown over what they're spending and what they're projecting. So we will learn more about SpaceX as the documents become more public.
So interesting.
Thank you so much. I've got two tidbits. One is related to this story.
Two tidbits?
And one is not related.
Play that sting.
Okay, so the first tidbit related to SpaceX.
Yes.
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Chapter 6: How does SpaceX's satellite launch dominance affect the market?
And that means logically that I don't think I can take it off until next game. You can't take it off. Because we're one from one with me wearing this jersey right now.
And if there's anything I know about you, Sam, during these global tournaments, these sporting moments that unite the nation and the world, you are the greatest cheerleader that a team could hope for. And I think that means you've got to be pot committed. You've got to keep the guernsey on.
I mean, I'm actually delighted that it's not the Olympics because the Olympics started at about 11 or 12 at night and went all the way through the night. Here I get sleep-ins a little bit until, I mean, there's a couple of 2am ones which are really going to test me. But, I mean, I'm not really sleeping for the next six weeks. This is going to become 28% to 40% of my identity.
But, yeah, big shout-out to the jersey. It's the first First Nations designed jersey.
jersey released last year the artist is Rico Rennie um and Khan the Socceroos up the roos the mighty Socceroos Sam you look fabulous thank you anyone can rock the fluoros it's my man they said leave the fluoros in 2007 and I said how dare you yeah I said give me give me a long sleeve version that is all we've got time for on today's podcast thank you so much for listening we will be back this afternoon with the headlines but until then have a great day
My name is Lily Madden and I'm a proud Arundar, Bundjalung, Kalkadoon woman from Gadigal country. The Daily Oz acknowledges that this podcast is recorded on the lands of the Gadigal people and pays respect to all Aboriginal and Torres Strait Islander nations. We pay our respects to the First Peoples of these countries, both past and present.
Just before we go, did you know that sniffing can give your dog a dopamine boost and help melt away stress? This winter, Advanced Pet Food and Pet Barn are bringing an in-store sniffari to stores throughout June to get your dog's nose and brain working for when park dates are on pause. Plus, for a limited time, Advanced Dry Dog Food 13kg and 15kg bags are just $115 at Pet Barn.
Head in-store today. Offer ends 29th of June. Terms and conditions apply. Thank you.
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