Elon Musk's net worth has exceeded Bitcoin's market cap, reaching $1.32 trillion as SpaceX shares surge post-IPO. This highlights a shift in speculative capital towards public companies like SpaceX, while the crypto market cools.
Aman Sanger, 25, is set to become one of the youngest AI billionaires following SpaceX's $60 billion acquisition of Cursor, the AI coding startup he co-founded. The deal, expected to close in Q3 2026, could see Sanger's net worth reach $2.7 billion.
Michael Truell, 25, co-founded AI coding company Cursor, which was acquired by SpaceX for $60 billion. A former MIT student, Truell's venture has become one of Silicon Valley's fastest-growing startups, with its technology used by 67% of Fortune 500 companies.
Elon Musk has reportedly become the world's first trillionaire, a milestone that raises significant concerns about extreme wealth concentration. Experts highlight dangers including fiscal unfairness, societal waste, and the undermining of democratic processes due to such concentrated power.
Elon Musk has reportedly become the world's first trillionaire, a milestone that highlights extreme wealth concentration. The article discusses the dangers of such wealth, including fiscal unfairness, wastefulness, and the undermining of democracies, using Musk's actions and influence as examples.
French economist Gabriel Zucman questions if democracy can endure with trillionaires, citing extreme wealth's power to influence markets, discourse, and policy. He highlights the growing concentration of wealth and its potential to undermine democratic principles, drawing parallels to historical periods and contemporary concerns.
Economist Gabriel Zucman questions if democracy can endure the rise of trillionaires, citing their immense power to influence markets, discourse, and policy. He contrasts current extreme wealth concentration with the Gilded Age, noting billionaires' growing control over global GDP and political donations, and warns of a battle between democracy and oligarchy.
Chances for California's proposed 5% billionaire tax to appear on the November ballot have dropped significantly, with Governor Gavin Newsom reportedly pushing to block it. The tax, backed by a healthcare union, targets about 200 individuals with over $1 billion in net worth.
Paramount refused to air a 30-second ad from the Freedom of the Press Foundation during a UFC broadcast, citing a "conflict of interest." The ad criticized Paramount's leadership, its merger with Warner Bros Discovery, and its perceived appeasement of Donald Trump, linking it to censorship concerns.
Geely's ZXMOTO brand enters the World Superbike Championship (WSBK) in the WorldSSP category. This move aims to enhance Geely's global image and technological prowess, challenging European and Japanese dominance in the sport.
New York and the UK are implementing new taxes on luxury properties to address the housing crisis and fund public services. While these measures aim to target the ultra-rich, experts suggest they are only a partial solution to broader issues of real estate financialization and monetary policy.
A private Signal chat involving billionaires like Sergey Brin and Marc Andreessen, who discussed strategies to combat California's proposed 5% wealth tax, has been revealed. Their efforts, including backing candidates and attempting to buy signature-gathering companies, have largely failed, with the tax measure polling strongly and legislative action pending.
An investigation into the death of Baby Justin raises questions about why an inquest was never held. A One Nation official with a history of racist social media posts is revealed. Locals discuss the impact of a shark attack. Cape Verde shocked Spain in the World Cup.
An investigation into the death of Baby Justin raises questions about why an inquest was never held. A One Nation official with a history of racist social media posts is revealed, and locals react to a shark attack. Cape Verde shocked Spain in the World Cup.
President Trump announced a major "rally" in Washington for July 4, calling it "the most spectacular TRUMP RALLY of them all." The event, named "Tribute to America," will be held at the Washington Monument and Lincoln Memorial.
Billionaire Bill Ackman defended Elon Musk after Senator Bernie Sanders criticized Musk's trillionaire status, calling it a "call to action" against wealth inequality. Ackman argued Musk's companies create societal value, citing SpaceX's Starlink internet and the creation of new millionaires.
Mike Ashley's Frasers Group has launched a takeover bid for Australian footwear business Accent Group, offering 65 Australian cents a share. This follows a recent near-€2bn offer for Hugo Boss, highlighting a spree of acquisitions by the British billionaire.
Gina Rinehart's Hancock Prospecting has made a significant investment in Elon Musk's SpaceX, reportedly at least $1.4bn, as the company began trading on sharemarkets. Rinehart expressed confidence in Musk and excitement about SpaceX's AI prospects, with potential for collaboration on AI infrastructure and critical mineral supply.
Mark Cuban cautioned that even the wealthiest entrepreneurs could see their fortunes disappear if the stock market crashes again. He also expressed concern about wealth concentration and shared his strategy for protecting his own wealth.
Mark Cuban cautioned that even the wealthiest entrepreneurs could see their fortunes disappear if the stock market crashes again. He also expressed concern about wealth concentration and shared his strategy for protecting his own wealth.
Elon Musk has become the first person in modern history to exceed $1 trillion in personal net worth, reaching $1.11 trillion following SpaceX's record-breaking IPO. His wealth now surpasses the market cap of the global cryptocurrency sector excluding Bitcoin.
A luxury five-bedroom apartment in Hong Kong, featuring 3.5-meter floor-to-ceiling heights, has been sold. The sale occurs amidst geopolitical uncertainties, including the US-Israel war on Iran, prompting investors to diversify assets. This transaction underscores strong demand in Hong Kong's super-luxury residential market.
Daniel Kretinsky is set to become West Ham's largest shareholder, increasing his stake to 43% by buying shares from the Gold family. This comes as co-owner David Sullivan faces allegations of abuse of power, with the Independent Football Regulator potentially forcing him to divest his shares. Kretinsky aims to inject capital to help the club return to the Premier League.
Daniel Kretinsky and Vanessa Gold have expressed concern over allegations against West Ham shareholder David Sullivan, stating the board was unaware until recently. Kretinsky's stake will increase, making him the largest shareholder, while Sullivan denies the claims.
