World Cup ticket prices are a red card for fans
6/12/202612 min
SpaceX has raised $75bn in a record-breaking initial public offering, and the European Central Bank became the first central bank in the G7 to increase borrowing costs in response to the Middle East energy shock. Plus, the World Cup could have a lot of empty seats.
Mentioned in this podcast:
Elon Musk’s SpaceX raises $75bn in world’s biggest IPO
ECB raises interest rates for first time since 2023
Fifa faces empty seats as 180,000 World Cup tickets hit resale market
Credit: New York City Mayor’s Office, European Central Bank
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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsMark Filippino· Host0:00
[upbeat music] Good morning from the Financial Times. Today is Friday, June 12th, and this is your FT News Briefing. SpaceX's blockbuster IPO debuts today, and interest rates are back up in the Eurozone. Plus, there might be some empty seats at the World Cup.
Speaker 20:18
The real fans are the fans that really can't get in because of the ticket prices, but the ticket prices now are for the people who have money.
Mark Filippino· Host0:26
I'm Mark Filipino, and here's the news you need to start your day. [upbeat music] Today's the big day. Elon Musk's SpaceX is going public, and here are the three numbers you need to know. The rocket/AI company raised seventy-five billion dollars. The group is releasing five hundred and fifty-five point six million shares, and here's the big one: they'll be worth a hundred and thirty-five dollars apiece. SpaceX plans to pour the capital into projects ranging from AI infrastructure to new satellite constellations. Now, to put this all into context, Alibaba had the most valuable IPO prior to this one. It went public in twenty fourteen, and shares were worth almost eighty-six dollars in today's money. Compare that with the one hundred and thirty-five dollar share price for SpaceX. The listing comes during a volatile week for US markets, and other blockbuster IPOs are gearing up, too. Anthropic and OpenAI are