I just saw something quite interesting on X. Elon replied to Peter Diamandis, saying that his goal is to reach a net worth of 10 trillion dollars. For context, Peter had mentioned that Elon already exceeded 800 billion. Elon’s reply was direct: “$10T or nothing.” Peter compared that amount of money to Rockefeller’s fortune in 1913, but with one key difference: while Rockefeller had oil, Elon has the future.

But what’s really important here is what’s going on with SpaceX. The company is about to go public, and Wall Street is literally in a frenzy. It’s rumored that it could be valued at around 1.5 trillion dollars. Nearly 200 investment institutions from major funds recently traveled to Texas for a presentation. Some managers are already setting aside money, deciding how much they can buy, and analyzing what they could sell to free up liquidity. Funds are even considering cutting positions in big tech, including Tesla, just to have cash available.

Meanwhile, sentiment around Tesla on Stocktwits is extremely bullish, though with low message volume. Retail traders are paying attention. One user asked why Elon doesn’t fund his own Tesla infrastructure. Other traders are speculating about price moves. Tesla is down 13% this year, making it the second-worst performer among the Mag7.

Now, what’s fascinating about SpaceX’s structure is that Elon is securing virtually total control. The IPO document indicates that no one can remove him as CEO or board chair without his approval. Class B shares will carry 10 votes each, and Elon is expected to control them. Basically, any attempt to remove him would go through the same voting power that he controls. It’s a dual-class structure that goes beyond what’s typical in technology IPOs. Corporate governance experts say this gives him something close to a personal veto over any attempt to remove him. SpaceX warned buyers that this structure will limit their ability to influence corporate matters.

Meanwhile, Elon is also fighting in court against OpenAI. Greg Brockman, co-founder and president of OpenAI, was expected to testify in Oakland in the case Elon filed against the creators of ChatGPT. Elon wants them to revert to a nonprofit foundation model, and he’s suing for breach of charitable trust. What’s interesting is that OpenAI’s lawyers filed documents showing that Elon contacted Greg around April 25 to ask about a potential settlement. Greg responded that both sides could withdraw their lawsuits. Elon then replied that by the end of that week, he and Sam would be the most hated men in America if they pressed on. OpenAI’s lawyers want to question Greg about that exchange. Clearly, things are intense on multiple fronts for Elon right now.