美股焦點
2026年06月11日
Why SpaceX’s $1.8T IPO Will Create New Millionaires in Texas | WSJ
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🤖 AI 重點摘要
- Starbase, Texas is SpaceX’s new company town and IPO hub.
- The anticipated $1.8 trillion IPO could create many new millionaires among local employees.
- Brownsville, historically one of the poorest U.S. cities, faces rapid economic change.
- Residents and local businesses are bracing for both opportunity and uncertainty.
- WSJ’s on‑the‑ground report explores the shifting economy and future of the region.
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You've been watching this for a long time.
你一直在觀看這段相當長的時間。
How quickly or slowly would you say SpaceX is able to move when it makes a decision to sort of build?
你認為 SpaceX 在決策建造時，能以多快或多慢的速度推進？
>> This just started like 2 3 months ago.
>> 這只是剛開始，約兩三個月前。
They move really fast.
他們移動非常快。
They work 24/7 around here.
他們 aqui 24/7 都在工作。
Concrete's always flowing.
混凝土永遠在流動。
Steel's always being erected.
鋼材永遠在升起。 8. 他們不會浪費任何時間。
They don't waste any time.
>> 這就是德克薩斯州的 Starbase。
>> This is Starbase, Texas.
>> 這就是德克薩斯州的 Starbase。
It's a company town and the headquarters of Elon Musk SpaceX, where hundreds of residents
這是一座公司城，也是 Elon Musk 的 SpaceX 總部，數百名居民
work, live, and sleep.
工作、居住、睡覺。
A small army of staff and contractors pour into the site every day from neighboring areas,
每天有一支小規模的員工與承包商從鄰近區域湧入，
including Brownsville, the biggest city in Texas's Rio Grande Valley and historically one of the poorest places
包括德克薩斯州里約·格蘭德河谷最大城市 Brownsville，這是美國歷史上最貧窮的地方之一
in the US.
在美國。
At Starbase, SpaceX has been developing a factory, test sites, and launchpads for Starship, the massive rocket it
在 Starbase，SpaceX 正開發一座工廠、測試場地與發射平台，為其希望未來能載人前往火星的巨型火箭 Starship，
hopes one day will take crews to Mars.
希望有一天能載運太空人前往火星。
ignition.
點火。
>> This is also mission control for SpaceX's roughly $1.8 trillion IPO, expected to be the largest in history.
>> 這也是 SpaceX 約 1.8 兆美元 IPO 的任務控制中心，預計將是歷史上最大規模的 IPO。 19. 許多在 Starbase 的員工有望賺到小財富，將巨大的財富注入一個已經力不從心承受的區域
Many employees at Starbase stand to make small fortunes, injecting immense wealth into a region already straining to
點火。
accommodate Elon Musk's grand ambitions.
承受 Elon Musk 的宏偉野心。
>> I think we're going to have instant millionaires because of the IPO.
>> 我認為因為 IPO，我們很快會產生即時百萬富翁。
There's 19,000 plus cities in the United States.
美國有超過 19,000 個城市。
I say 99% of those cities in the US wish they had that opportunity that we've have had here in the last few years.
我說美國 99% 的城市都希望自己能像我們這些年所擁有的那個機會。
>> Locals cannot tell SpaceX what they can and can't do and they've never been able to do that.
>> 當地人無法告訴 SpaceX 他們能做什麼不能做，而且他們從未能這樣做到。
>> I run an IT business down here but this is actually taking up most of my time now.
>> 我在這兒經營 IT 公司，但現在這已經佔用了我大部份的時間。
This following SpaceX down here has turned into like a triple overtime job.
這下面的 SpaceX 已經變成了三倍加班的工作。
Lewis Balderas runs a YouTube channel called Avid Space, which operates cameras that track parts of Starbase
Lewis Balderas 經營一個叫「Avid Space」的 YouTube 頻道，該頻道透過相機追蹤星際基地的各個部分。
24/7.
24/7.
SpaceX has been a private company for more than 20 years and is famously cautious with how it engages with the
SpaceX 已經是私人公司超過 20 年，且在與公眾與媒體的互動上特別謹慎。
public and press.
公眾與媒體。
Company trackers like Bodess helped fill in the gaps.
像 Bodess 這樣的公司追蹤者幫助彌補了這些空白。
>> How would you say this site is like changed in the last like 6, seven years?
>> 你會說這個地點在過去大約 6、7 年間有什麼樣的變化？
>> They started out with just a few tents and a small launch pad.
>> 他們最初只有一些帳篷和一個小型發射台。
Now it's like a it's literally a city over here now with all the new condos, apartment complexes,
現在這裡像是一座城市，因為有新的公寓、住宅區以及對「mega bay」的各種增建。
the uh additions to the mega bay.
>> SpaceX 用這些高位倉庫是做什麼的？
>> What is SpaceX use the the high bays for?
>> 高位倉庫和 mega 倉庫正被用來建造火箭推進器和星際飛船。
>> The high bays and mega bays are being used to build the boosters and the starships.
你知道，他們以前是建在開闊的廣闊地區裡。 38. >> 是的。
You know, they used to build it out in the middle of out the wide open.
>> 我想他們也把我們阻擋在 SpaceX 在 Cameron 的觀看之外。
>> Yeah.
>> 我想他們也把我們阻擋在 SpaceX 在 Cameron 的觀看之外。
>> And I guess they also keep us from watching SpaceX has had a presence in Cameron
>> 是的。
County, home to Starbase in Brownsville since 2014.
自 2014 年起，布朗斯維爾郡是 Starbase 的所在地。
Back then, the company planned to use the site to launch Falcon 9 rockets, but it later switched to
當時該公司計畫在此地使用該地點發射 Falcon 9 火箭，但之後改為
building and flying its Starship vehicles there.
建造並在此地執行其星際客 (Starship) 車輛。
In 2024, Musk announced that Starbase would also become SpaceX's new headquarters.
2024 年，埃爾隆·馬斯克宣布 Starbase 也將成為 SpaceX 的新總部。
Starbase's footprint is limited now, but the city is looking to expand.
目前 Starbase 的佈局相對有限，但該市正尋求擴張。
Municipal leaders want to add more than 7,000 acres nearby.
市政領袖希望在附近新增超過 7,000 英畝。
A single state highway is the only road that connects Brownsville with Starbase in Bokhica Beach, which
唯一連接布朗斯維爾與 Bokhica Beach 中的 Starbase 的州高速公路是唯一道路，該道路在發射期間會被關閉。
gets shut down during launches.
在發射期間會被關閉。
Last year, SpaceX staff and eligible family members voted to form a new municipality
去年，SpaceX 员工及其合格家屬投票成立一個新的市政機構
covering the property, giving them the rights and powers of their own local government.
覆蓋該土地，賦予他們與本地政府相同的權利與權力。
Since 2016, Eddie Trevvinho Jr.
自 2016 年起，Eddie Trevvinho Jr.
has served as Cameron County Judge, its top governing official, and worked closely with SpaceX as the company's
擔任 Cameron County Judge，即其最高治理官員，並密切合作於 SpaceX，作爲公司的
operations grew.
營運已增長。
>> There's no hiding the fact that it's a company town.
>> 不可否認它是一個公司城鎮。
There's no mystery to that and what its goal is.
對此毫無神祕，也清楚其目的。
But I think based upon the the history and the working relationship that that we've had from
但我想基於我們經歷的歷史與合作關係...
the county with SpaceX overall and now with Starbase, I think we've built up a good enough uh history and relationship
然後會把社區拋開，卻沒有一點獎勵。
and rapport.
但我想基於我們經歷的歷史與合作關係...
It cannot just be that SpaceX is coming down here to literally take the resources, reap the benefit,
然後會把社區拋開，卻沒有一點獎勵。
and then leave uh leave the community without any um any reward.
>> Starbase has set up services to support SpaceX employees and their families living on site, including an emergency
>> Starbase 為在場的 SpaceX 員工及其家人提供服務，涵蓋緊急應變組織、警察局，甚至當地法院。
management organization, police department, and even a local court.
同時正在規劃中，將興建一座新公園與設施大樓，以及一所名為 Adastra 的學校，供 SpaceX 員工的子女使用。
Also in development, a new park and amenities building as well as a school for the
>> 把工程師搬過來的問題被稱為「重要伴侶問題」。
kids of SpaceX employees called Adastra.
所以 >> 其他人都有工作。
>> Getting engineers to move called the significant significant other problem.
>> 是啊。
>> Yes.
>> 是啊。
So >> others have jobs.
完全一樣。
>> Yeah.
所以，對於 Starbase 來說，特別是這件事很困難。
>> Yeah.
>> 對。
Yeah.
>> 由於想在德州找到非 SpaceX 工作的機會相當低。
Exactly.
是啊。
So um for Starbase that was particularly difficult.
是啊。
>> Yes.
我就是說，它就像一座科技修道院。
>> Since the odds of you know finding a non SpaceX job >> Texas
erh，簡單說，它很偏遠，而且大多數都是男性。
pretty low.
我就是說，它就像一座科技修道院。
Yeah.
erh，簡單說，它很偏遠，而且大多數都是男性。
Yeah.
It's quite quite difficult.
I mean it's like a technology monastery thing.
um you know remote and mostly dudes.
>> The SpaceX effect is showing up beyond the confines of Starbase.
>>SpaceX 的效應已超出星基地的範圍。
Brownsville has historically struggled with poverty and the unemployment rate in the area
布朗斯維爾過去長期與貧困與失業率作鬥爭，且該區的失業率仍高於全國平均約兩個百分點。
currently hovers two points above the national average.
目前仍高出全國平均約兩個百分點。
Its SpaceX employees and contractors are injecting new spending into the community and tourists
SpaceX 員工與承包商正將新開支注入社區，吸引來自世界各地的遊客。
from around the world show up to watch Starship launches.
來自世界各地的觀眾紛紛前來觀看星艦發射。
The city's downtown has murals referencing space and Elon Musk.
該市市區有以太空與埃隆·Musk 為主題的壁畫。
What's interesting about this area, Brownsville, Texas, I mean, for, you know, decades, it was always a
這個區域 — — 墨西哥德州布朗斯維爾 — — 多年來總是
somewhat of a sleepy border town.
有點沉靜的邊境小鎮。
Our economy was tied to the Mexican peso, but now it's really about space and
我們的經濟曾依賴墨西哥比索，但現在真的與太空和
energy, and that's really taken this whole region to a whole different level.
能源，而且真的把整個區域推向全新層次。
This would be a onebedroom.
這是一個一居室。 92. 所以，這就是一個一居室。
So, this is a one bedroom.
>> 嗯，是的。
>> Yeah.
>> 嗯，是的。
So this would be a living room here, the kitchen here, and then a bedroom here.
所以，這裡就是客廳，接著是廚房，然後是臥室。
>> Okay.
>> 好的。
>> Raj Patel has been working on hotel real estate projects in the valley for years.
>> Raj Patel 多年間一直在山谷從事飯店與房地產相關的開發工作。
His first ever apartment development is being spurred along by SpaceX.
他的第一個公寓開發項目正因 SpaceX 而加速推動。
Stargaze will offer 206 apartments that cater to a newer group of wealthier renters in
Stargaze 將提供 206 套公寓，目對象是該區較為富裕的新租客群體在
the area.
該區。
Brownsville didn't used to be this strong of a market, but you know, ever since they announced SpaceX, there's a
布朗斯維爾以前不是這樣強大的市場，但你懂的，自從他們宣布 SpaceX 以來，就有一
lot of new employment and a lot of people coming in and that's
有許多新就業機會，也有許多人搬來，而且……
created a lot of demand for rentals.
創造了大量租賃需求。
My idea here is uh you know having a community with all the amenities that someone would want and to to you know
我在這裡的構想是…建立一個配備完善、能讓人想要的各項便利設施的社區，而且……
enhance their quality of life.
提升他們的生活品質。
Not everyone feels that SpaceX has been a boon to the area or that economic benefits including from the upcoming IPO
不是每個人都認為 SpaceX 對該區是福祉，或是包括即將上市的 IPO 在內的經濟利益是否值得付出代價。
are worth the costs.
是否值得付出代價。
>> A lot of people when you talk to them about Starbase they point to economic development.
>> 當你談到 Starbase 時，很多人會指出其帶來的經濟發展。
What do you make of those arguments?
你對這些論點有什麼看法？
Well, those people are likely employees or benefiting in some way from
好了，這些人很可能是員工，或以其他方式受益於
the existence of this entity.
這個實體的存在。
They're not taking into account the damages that are being done, the wastewater dumping
他們未考慮到正在造成的損害，包括在濕地的廢水排放。
in an estuary, the access denial.
在濕地，取消進入的限制。
These jobs are given to people who come from other places.
這些工作分配給其他地區的人。
They're not people from Brownsville because we wouldn't need to move to a little town on the launch pad.
他們不是布朗斯維爾當地人，因為我們不需要搬到發射平台旁的那個小鎮。
>> SpaceX needs to clear the area during Starship operations for safety reasons, but the restrictions have upset a number
>> SpaceX 為了安全考慮在星際飛船運行期間需要清除該區，但這些限制已令卡梅隆縣周邊的許多民眾不滿，並引發訴訟。
of people around Cameron County and generated a lawsuit.
造成許多民眾不滿，並引發訴訟。
SpaceX did not respond to requests for comment.
SpaceX 未對詢問請求作出回應。
The company said it has boosted the local economy, creating jobs, and bolstering the tax base, and that it
該公司表示已振興當地經濟，創造工作機會，並在稅基方面提供支持，且
remains committed to addressing environmental impacts and operating safely.
仍致力於應對環境影響，並確保安全營運。
Starbase is expected to keep growing.
星際基地預計持續擴張。
SpaceX wants to step up launches of Starship and hiring at the site.
SpaceX 想加快星際火箭（Starship）的發射次數，並在此地招聘人員。
And pretty soon, SpaceX will be doing all of this as a public company.
很快，SpaceX 將以一家公開公司的身份執行所有這些事務。
>> I'll be pretty open.
>> 我會相當坦白。
I don't think we're prepared for it.
我不認為我們已經做好準備。
We're doing the best that we can to figure it out, but it's a huge infusion of money coming in.
我們盡最大努力想清楚，但這是一筆龐大的資金注入。 126. 加州人湧入德州，特別是我的布朗斯維爾，顯然這就是 IPO。
Californians are coming in to my Texas, my Brownsville, Texas, and obviously it's the IPO.
所以未來幾個月會很有趣，因為我們正看到經濟活動投機升溫。
So next few months will be interesting as we're seeing an uptick in economic activity speculation.
所以未來幾個月會很有趣，因為我們正看到經濟活動投機升溫。
>> We're looking at the future and we see a bright future um because of the IPO because of the rising income levels.
>> 我們在展望未來，看見因 IPO 與收入上升而帶來光明的前景。
>> Do you think there's any way that Starbase and what SpaceX does can coexist in that landscape?
>> 你認為星際基地與 SpaceX 的業務能在那個環境中共存嗎？ 130. >> 不存在共存。
>> There is no coexisting.
>> 我們在展望未來，看見因 IPO 與收入上升而帶來光明的前景。
It is a takeover of an heavy industry and the surrounding infrastructure they need to exist.
這是對重工業及其周邊基礎設施的佔領。 132. 我們先前所擁有的已不復存在。
And what we had is not there anymore.
這是對重工業及其周邊基礎設施的佔領。 132. 我們先前所擁有的已不復存在。