Michael Burry, the fund manager on whom the film The Big Short (2015) was based and who became famous (and wealthy) for anticipating the subprime mortgage crisis, published on his blog in December 2025 his conviction that Tesla, Elon Musk’s electric vehicle and energy company, had been “ridiculously overvalued for a long time.” In his view, the company’s value to investors was only being diluted over time, in part by the exorbitant compensation paid to Musk, which does not match Tesla’s actual profits. Tesla’s stock has risen 115% over the past five years despite never having paid a dividend since its debut on the market a decade ago. Nearly six months have passed, but Burry’s thesis remains intact. In recent remarks he echoed a market rumor that Musk would use SpaceX’s initial public offering to merge it with Tesla, which would further dilute the value of a company that is currently the ninth-largest in the world by market capitalization ($1.64 trillion).

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SpaceX, the company founded in 2002 by Elon Musk with the utopian dream of sending humans to Mars, became one of the world’s leading tech giants on Friday. The company, which specializes in launching rockets into space, communications satellites, and artificial intelligence, has made the biggest stock market debut in history. In the absence of an official listing, trading on the Nasdaq suggests a price of between $170 and $175 per share, up to 30% above the $135 at which the shares were sold. This valuation places the company at approximately $2.25 trillion, making it the sixth-largest company in the world by market capitalization. It was the largest initial public offering in history, ahead of Saudi oil giant Aramco’s 2019 debut, which raised about $29 billion.

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Elon Musk, el fundador y presidente de Tesla, se convertirá este viernes en la primera persona en la historia en acumular un patrimonio superior al billón de dólares gracias al debut en Bolsa de SpaceX. La empresa de lanzamiento de cohetes, satélites de telecomunicaciones e inteligencia artificial se estrena en el parqué con una valoración de 1,78 billones de dólares, el equivalente a 1,5 billones de euros, en una operación histórica que abre el camino a otros estrenos bursátiles rimbombantes en el sector de la IA.

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Payaso, genio, provocador, showman, canalla... son algunos de los apelativos a los que recurrió Time para justificar el nombramiento de Elon Musk en 2021 como su Personaje del Año. “Aspira a salvar nuestro planeta y conseguirnos uno nuevo donde habitar”, aseguraba la revista. Menos de cinco años después, el empresario, que además aspira a colonizar Marte, impulsa la mayor salida a Bolsa de la historia. SpaceX prevé levantar hoy en su debut 75.000 millones de dólares y para ello cuenta con una fiel legión de pequeños inversores que buscan subirse al carro de la industria aeroespacial y la inteligencia artificial, a costa de no pocas prebendas para Musk. El magnate, hombre más rico del mundo, es el principal valedor de la OPV (tanto o más que los números de la empresa) y gozará de un poder omnímodo nada habitual en una cotizada aunque, aparentemente, no lo necesita.

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